DEBT AND CREDIT FACILITIES (Tables)

3 Months Ended

Mar. 31, 2018



CREDIT FACILITIES IN SOUTH AMERICA AND MEXICO
(U.S. dollar-equivalent in millions)
			March 31, 2018
		Denominated in	Total facility		Amount outstanding				Available unused credit
Sempra South American Utilities⁽¹⁾:
	Peru⁽²⁾	Peruvian sol	$	455	$	(103	)	⁽³⁾	$	352
	Chile	Chilean peso	115		—				115
Sempra Mexico:
	IEnova⁽⁴⁾	U.S. dollar	1,170		(312		)		858
Total			$	1,740	$	(415	)		$	1,325


⁽¹⁾	The credit facilities were entered into to finance working capital and for general corporate purposes and expire between 2018 and 2021.


⁽²⁾	The Peruvian facilities require a debt to equity ratio of no more than 170 percent, with which we were in compliance at March 31, 2018.


⁽³⁾	Includes bank guarantees of $17 million.


⁽⁴⁾	Five-year revolver expiring in August 2020 with a syndicate of eight lenders.



PRIMARY U.S. COMMITTED LINES OF CREDIT
(Dollars in millions)
	March 31, 2018
	Total facility			Commercial paper outstanding⁽¹⁾			Adjustment for combined limit			Available unused credit
Sempra Energy⁽²⁾	$	1,250		$	—		$	—		$	1,250
Sempra Global⁽³⁾	3,185			(2,826		)	—			359
California Utilities⁽⁴⁾:
SDG&E	750			(340		)	—			410
SoCalGas	750			(100		)	(90		)	560
Less: combined limit of $1 billion for both utilities	(500		)	—			90			(410		)
	1,000			(440		)	—			560
Total	$	5,435		$	(3,266	)	$	—		$	2,169


⁽¹⁾	Because the commercial paper programs are supported by these lines, we reflect the amount of commercial paper outstanding as a reduction to the available unused credit.


⁽²⁾	The facility also provides for issuance of up to $400 million of letters of credit on behalf of Sempra Energy with the amount of borrowings otherwise available under the facility reduced by the amount of outstanding letters of credit. No letters of credit were outstanding at March 31, 2018.


⁽³⁾	Sempra Energy guarantees Sempra Global’s obligations under the credit facility.


⁽⁴⁾	The facility also provides for the issuance of letters of credit on behalf of each utility, subject to a combined letter of credit commitment of $250 million for both utilities. The amount of borrowings otherwise available under the facility is reduced by the amount of outstanding letters of credit. No letters of credit were outstanding at March 31, 2018.

Schedule of Debt

On January 12, 2018, we issued the following debt securities and received net proceeds of $4.9 billion (after deducting discounts and debt issuance costs of $68 million):



NOTES ISSUED IN LONG-TERM DEBT OFFERING
(Dollars in millions)
Title of each class of securities	Aggregate principal amount		Maturity	Interest payments
Floating Rate⁽¹⁾ Notes due 2019	$	500	July 15, 2019	Quarterly
Floating Rate⁽²⁾ Notes due 2021	700		January 15, 2021	Quarterly
2.400% Senior Notes due 2020	500		February 1, 2020	Semi-annually
2.900% Senior Notes due 2023	500		February 1, 2023	Semi-annually
3.400% Senior Notes due 2028	1,000		February 1, 2028	Semi-annually
3.800% Senior Notes due 2038	1,000		February 1, 2038	Semi-annually
4.000% Senior Notes due 2048	800		February 1, 2048	Semi-annually


⁽¹⁾	Bears interest at a rate per annum equal to the 3-month LIBOR rate, plus 25 bps.

⁽²⁾

Bears interest at a rate per annum equal to the 3-month LIBOR rate, plus 50 bps.