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DEBT AND CREDIT FACILITIES
 6 Months Ended
Jun. 30, 2021
Debt Disclosure [Abstract]  
DEBT AND CREDIT FACILITIES DEBT AND CREDIT FACILITIES
LINES OF CREDIT
Primary U.S. Committed Lines of Credit
In May 2021, Sempra Global assigned its $3.2 billion, five-year committed line of credit facility to Sempra and Sempra assumed all rights and responsibilities under the credit agreement. Also, in May 2021, Sempra established a commercial paper program to replace Sempra Global’s commercial paper program that was terminated in June 2021.
At June 30, 2021, Sempra had an aggregate capacity of $6.7 billion from primary U.S. committed lines of credit, which provide liquidity and support commercial paper. The principal terms of these committed lines of credit, which expire in May 2024, 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)
June 30, 2021
Total facility
Commercial paper outstanding(1)(2)
Available unused credit
Sempra(3)
$4,435 $(1,117)$3,318 
SDG&E(4)
1,500 (437)1,063 
SoCalGas(4)
750 (143)607 
Total$6,685 $(1,697)$4,988 
(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)    Commercial paper outstanding is before reductions of a negligible amount of unamortized discount.
(3)    The facility also provides for issuance of $200 million of letters of credit on behalf of Sempra with the amount of borrowings otherwise available under the facility reduced by the amount of outstanding letters of credit. Subject to obtaining commitments from existing or new lenders and satisfaction of other specified conditions, Sempra has the right to increase the letter of credit commitment up to $500 million. No letters of credit were outstanding at June 30, 2021.
(4)    The facility also provides for issuance of $100 million of letters of credit on behalf of the borrowing utility with the amount of borrowings otherwise available under the facility reduced by the amount of outstanding letters of credit. Subject to obtaining commitments from existing or new lenders and satisfaction of other specified conditions, the borrowing utility has the right to increase the letter of credit commitment up to $250 million. No letters of credit were outstanding at June 30, 2021.

Sempra, SDG&E and SoCalGas each must maintain a ratio of indebtedness to total capitalization (as defined in each of the applicable credit facilities) of no more than 65% at the end of each quarter. At June 30, 2021, each entity was in compliance with this ratio under its respective credit facility.
Foreign Committed Lines of Credit
Our foreign operations in Mexico have additional committed lines of credit aggregating $1.8 billion at June 30, 2021. The principal terms of these committed lines of credit are described in Note 7 of the Notes to Consolidated Financial Statements in the Annual Report.
FOREIGN COMMITTED LINES OF CREDIT
(U.S. dollar equivalent in millions)
June 30, 2021
Expiration date of facilityTotal facilityAmounts outstandingAvailable unused credit
February 2024$1,500 $(189)$1,311 
September 2021280 (280)— 
Total
$1,780 $(469)$1,311 

In addition to its committed lines of credit, IEnova has a three-year $20 million uncommitted revolving credit facility with Scotiabank Inverlat S.A. (borrowings may be made in either U.S. dollars or Mexican pesos) and a three-year $100 million uncommitted revolving credit facility with The Bank of Nova Scotia (borrowings may only be made in U.S. dollars). Both credit facilities expire in October 2023. At June 30, 2021, available unused credit on these lines was $20 million.
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 June 30, 2021, we had approximately $680 million in standby letters of credit outstanding under these agreements.
TERM LOAN
In June 2021, SDG&E entered into a $375 million, 364-day term loan with a maturity date of June 27, 2022. At June 30, 2021, there were no borrowings outstanding under this agreement. In July 2021, SDG&E borrowed $200 million, net of negligible issuance costs, under the term loan. The borrowing bears interest at benchmark rates plus 62.5 bps. The term loan provides SDG&E with additional liquidity outside of its line of credit.
WEIGHTED-AVERAGE INTEREST RATES
The weighted-average interest rates on the total short-term debt at June 30, 2021 and December 31, 2020 were as follows:
WEIGHTED-AVERAGE INTEREST RATES
June 30, 2021December 31, 2020
Sempra0.34 %0.83 %
SDG&E0.19 — 
SoCalGas0.11 0.14 
LONG-TERM DEBT
Sempra Mexico
As we discuss in Note 5, through its acquisition of ESJ, Sempra Mexico assumed a $177 million (net of $6 million in unamortized debt issuance costs) variable rate loan payable to a syndicate of five lenders that matures in June 2033. To moderate exposure to interest rate and associated cash flow variability, ESJ entered into floating-to-fixed rate swaps for 90% of the principal balance, resulting in a fixed rate of 6.13%. The remaining 10% of the principal balance bears interest at 6-month LIBOR plus a margin of 2.63% with an increase of 25 bps every four years (2.80% at June 30, 2021).
Sempra LNG
In December 2020, ECA LNG Phase 1 entered into a five-year loan agreement with a syndicate of nine banks for an aggregate principal amount of up to $1.6 billion. At June 30, 2021 and December 31, 2020, $202 million and $17 million, respectively, was
outstanding, with a weighted-average interest rate of 2.85% and 2.82%, respectively. We discuss the details of this agreement in Note 7 of the Notes to Consolidated Financial Statements in the Annual Report.