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Article: Sempra Circles Half Billion Dollar Deal via ABN Amro.(Sempra Energy)(ABN AMRO Bank N.V. (Amsterdam, Netherlands))
- Article from:
- Private Placement Letter
- Article date:
- April 3, 2006
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San Diego-based energy services holding company Sempra Energy circled an upsized $500 million structured letter of credit note transaction last week, sources said. ABN Amro acted as the sole agent for the deal.
Sempra executed the transaction, which originally had a cover size of $150 million, in a single three-year floating rate tranche at 60 basis points over Libor, sources said.
Moody's Investors Service assigned the issuer a senior unsecured rating of Baa1 with a stable outlook, citing the company's high quality and predictable sources of cash flow and earnings generated from its two utility subsidiaries, Southern California Gas Company and San ...