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Latham & Watkins Advises Sempra Energy in Preferred Stock Offering

June 15, 2020
Bicoastal, interdisciplinary team represented the energy infrastructure company in the offering.

Sempra Energy has issued 900,000 shares of 4.875% fixed-rate reset cumulative redeemable perpetual preferred stock, Series C. The company estimates that the net proceeds to it from this offering, after deducting the underwriting discount but before deducting estimated offering expenses payable by the company, will be US$891 million.

Latham & Watkins LLP represented Sempra Energy in the offering with a corporate team led by San Diego partner Michael Sullivan and New York partner Greg Rodgers, with associates Michael Johnson, Taylor Stevens, Alaina Ellis, and Ty Balzer. Advice was also provided on tax matters by New York partner Bora Bozkurt and Los Angeles/Orange County partner Sam Weiner, with associate Katie Harrington.