Southern California Gas Company, an indirect subsidiary of Sempra, closed a public offering of $650,000,000 aggregate principal amount of 5.900% First Mortgage Bonds, Series FFF, due June 1, 2056. The company received proceeds of 98.661% of the aggregate principal amount, before approximately $1.4 million of other offering expenses.
The bonds bear interest at 5.900% per annum, accruing from May 15, 2026, with payments due semiannually on June 1 and December 1, starting December 1, 2026. The bonds are redeemable at the company’s option at the redemption prices described in the supplemental indenture, which, along with the form of bond, is filed as an exhibit.
Southern California Gas Company reported the results of its 2026 Annual Shareholders Meeting held on May 14, 2026. Shareholders elected all four director nominees — Diana L. Day, Lisa Larroque Alexander, Karen L. Sedgwick, and Caroline A. Winn — each receiving 91,350,970 votes in favor with no votes against, abstentions, or broker non-votes.
Shareholders also approved, on an advisory basis, the Company’s executive compensation, with 91,350,970 votes for and no votes against, abstentions, or broker non-votes. These results show unified shareholder support for the board slate and current executive pay program.
Southern California Gas Company, an indirect subsidiary of Sempra, has agreed to issue and sell $650,000,000 aggregate principal amount of its 5.900% First Mortgage Bonds, Series FFF, due 2056. The bonds will be sold to an underwriting syndicate for resale at a public offering price of 99.536% of their aggregate principal amount under an effective shelf registration on Form S-3. The transaction is governed by an underwriting agreement dated May 11, 2026, with BNP Paribas Securities Corp., CIBC World Markets Corp., Mizuho Securities USA LLC and Wells Fargo Securities, LLC as representatives of the underwriters.
Southern California Gas Company is offering $650,000,000 aggregate principal amount of 5.900% First Mortgage Bonds, Series FFF, due June 1, 2056. The bonds accrue interest from May 15, 2026, payable each June 1 and December 1 beginning December 1, 2026. The offering price is 99.536% (totaling $646,984,000), the underwriting discount is 0.875%, and estimated net proceeds are approximately $641.3 million before expenses. The company intends to use a substantial portion of net proceeds to repay outstanding indebtedness, which may include the $500.0 million 2.600% First Mortgage Bonds, Series TT, due 2026, and certain commercial paper maturing in May 2026. The bonds are initially issued in book-entry global form and are redeemable at the issuer’s option as described in the prospectus supplement.
Southern California Gas Company is offering First Mortgage Bonds, Series FFF, a preliminary prospectus supplement for a debt offering maturing on June 1, 2056. Interest is payable semiannually on June 1 and December 1, beginning December 1, 2026. The prospectus is subject to completion and contains blank terms in places; it is not an offer to sell. The company intends to use a substantial portion of net proceeds to repay outstanding indebtedness, which may include the $500.0 million Series TT bonds and commercial paper outstanding as of May 8, 2026. Estimated offering expenses payable by the company (excluding underwriting discount) are approximately $1,500,000. Other terms described include optional redemption mechanics, defeasance provisions, security under the indenture and underwriter arrangements. Delivery, pricing and aggregate principal amount are not stated in the excerpt.
Sempra and its California utilities reported stronger profitability for the quarter ended March 31, 2026, even as revenue declined slightly. Sempra’s total revenues were $3,655 million versus $3,802 million a year earlier, but earnings attributable to common shares rose to $1,037 million from $906 million, driven by lower fuel and operating costs and higher equity earnings.
Diluted earnings per share increased to $1.58 from $1.39. SDG&E earned $296 million, up from $281 million, while SoCalGas earned $424 million, down modestly from $443 million, reflecting lower natural gas revenues. Cash from operations climbed to $1,809 million, helping fund $2,461 million of capital spending as total assets reached $113,518 million.
Sempra reported stronger first-quarter 2026 results, with GAAP earnings rising to $1.04 billion and diluted EPS of $1.58, up from $906 million and $1.39 a year earlier. Adjusted earnings were $991 million, or $1.51 per diluted share, compared with $942 million and $1.44 in 2025.
Total revenues were $3.66 billion versus $3.80 billion last year, as lower natural gas revenue offset higher electric and energy-related sales. The company invested about $3.3 billion in first‑quarter capital expenditures and investments as part of its $64.9 billion 2026‑2030 capital plan.
Sempra updated its full‑year 2026 GAAP EPS guidance to $4.87–$5.37, affirmed its 2026 adjusted EPS guidance of $4.80–$5.30, its 2027 EPS range of $5.10–$5.70, and a projected long‑term EPS growth rate of 7%–9%.
Southern California Gas Company proposes to amend its Restated Articles of Incorporation to retire all outstanding preferred stock classes for a cash $31.00 per share Retirement Payment. As of May 18, 2026, there were 79,011 shares of Preferred Stock and 783,032 shares of Series A Preferred Stock outstanding. The board says each outstanding preferred share will be automatically retired in exchange for the Retirement Payment of $31.00 per share upon the effectiveness of the Amendment.
The Board received a fairness opinion from Alvarez & Marsal Valuation Services, LLC dated April 29, 2026, finding the $31.00 per-share consideration fair to preferred holders, collectively as a group. Shareholder approval requires multiple class votes and the Special Meeting is scheduled for July 13, 2026.
Southern California Gas Company filed an automatic shelf registration on Form S-3 to offer first mortgage bonds, senior debt securities and series preferred stock from time to time under an automatic shelf.
As context, the company reported 91,300,000 shares of common stock outstanding as of April 20, 2026, 79,011 shares of preferred stock outstanding as of April 20, 2026 and 783,032 shares of series A preferred stock outstanding as of April 20, 2026. The prospectus states that specific terms, amounts, pricing and use of proceeds will be set forth in future prospectus supplements.
SOUTHERN CALIFORNIA GAS CO filed an initial Form 3 for executive Rodger R. Schwecke, who serves as President and COO. This filing establishes him as a reporting person for future insider activity but does not list any current transactions or holdings.