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DEBT AND CREDIT FACILITIES
 3 Months Ended
Mar. 31, 2019
Debt Disclosure [Abstract]  
Debt and Credit Facilities DEBT AND CREDIT FACILITIES
LINES OF CREDIT
Primary U.S. Committed Lines of Credit
At March 31, 2019, Sempra Energy Consolidated had an aggregate of approximately $5.4 billion in three primary U.S. committed lines of credit for Sempra Energy, Sempra Global and the California Utilities to provide liquidity and to support commercial paper. The principal terms of these committed lines of credit, which expire in October 2020, are described below and in Note 7 of the Notes to Consolidated Financial Statements in the Annual Report.
PRIMARY U.S. COMMITTED LINES OF CREDIT
 
 
(Dollars in millions)
 
 
 
 
 
March 31, 2019
 
 
 
Total facility
 
Commercial paper outstanding(1)
 
Available unused credit
Sempra Energy(2)
 
$
1,250

 
$
—

 
$
1,250

Sempra Global(3)
 
3,185

 
(1,289
)
 
1,896

California Utilities(4):
 
 
 
 
 
 
      SDG&E
 
750

 
(238
)
 
512

      SoCalGas
 
750

 
(190
)
 
560

      Less: subject to a combined limit of $1 billion for both utilities
 
(500
)
 
—

 
(500
)
 
 
1,000

 
(428
)
 
572

Total
 
$
5,435

 
$
(1,717
)
 
$
3,718

(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, 2019.
(3) 
Commercial paper outstanding is before reductions of unamortized discount of $2 million. 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, 2019.

Sempra Energy, SDG&E and SoCalGas must maintain a ratio of indebtedness to total capitalization (as defined in each of the applicable credit facilities) of no more than 65 percent at the end of each quarter. At March 31, 2019, each entity was in compliance with this and all other financial covenants under its respective credit facility.
Foreign Committed Lines of Credit
In February 2019, IEnova revised the terms of its five-year revolving credit facility by increasing the amount available under the facility from $1.17 billion to $1.5 billion, extending the expiration of the facility from August 2020 to February 2024 and increasing the syndicate of lenders from eight to 10. At March 31, 2019, available unused credit on this line was approximately $692 million.
On April 11, 2019, IEnova entered into a three-year, $100 million revolving credit agreement with Scotiabank Inverlat, S.A. Under the agreement, withdrawals may be made for up to one year in either U.S. dollars or Mexican pesos.
Letters of Credit
Outside of our domestic and foreign committed credit facilities, we have bilateral unsecured standby letter of credit capacity with select lenders that is uncommitted and supported by reimbursement agreements. At March 31, 2019, we had approximately $611 million in standby letters of credit outstanding under these agreements.
WEIGHTED-AVERAGE INTEREST RATES
The weighted-average interest rates on total short-term debt at Sempra Energy Consolidated were 3.07 percent and 2.99 percent at March 31, 2019 and December 31, 2018, respectively. The weighted-average interest rates on total short-term debt at SDG&E were 2.80 percent and 2.97 percent at March 31, 2019 and December 31, 2018, respectively. The weighted-average interest rates on total short-term debt at SoCalGas were 2.49 percent and 2.58 percent at March 31, 2019 and December 31, 2018, respectively.
INTEREST RATE SWAPS
In February 2019, Sempra Energy entered into floating-to-fixed interest rate swaps to hedge interest payments on the $850 million of variable rate notes issued in October 2017 and maturing in March 2021, resulting in an all-in fixed rate of 3.069 percent. We discuss our interest rate swaps to hedge cash flows in Note 8.