Sempra Energy Announces Exercise Of IEnova Overallotment Options

       Sempra Energy Announces Exercise Of IEnova Overallotment Options

PR Newswire

SAN DIEGO, March 25, 2013

SAN DIEGO, March 25, 2013 /PRNewswire/ --Sempra Energy (NYSE:SRE) today
announced that the initial purchasers and Mexican underwriters in the
previously disclosed global offering of 189,661,305 shares of Class II, Single
Series, common stock of its subsidiary Infraestructura Energetica Nova, S.A.B.
de C.V. (formerly Sempra Mexico and referred to as IEnova) have exercised
their options to purchase an additional 28,449,195 shares of common stock at
the initial offering price of Ps.34.00 per share, less underwriting discounts
and commissions. With the exercise of the options, the aggregate shares of
common stock to be sold in the global offering represent approximately 18.9
percent of IEnova's outstanding ownership interest. Settlement of the global
offering, including the additional option shares, is expected to occur on
March 27, 2013, subject to the completion of customary closing conditions.

The net proceeds of the global offering, including the additional option
shares, are estimated to be approximately Ps.7.1 billion (US$571 million,
based upon an exchange rate of Ps.12.3841 to US$1.00, as of March 21, 2013, as
published by Banco de Mexico), after deducting underwriting discounts and
commissions and estimated offering expenses payable by IEnova. IEnova expects
to use the net proceeds of the offerings primarily for general corporate
purposes, including the funding of its current investments and ongoing
expansion plans.

The private offering that is part of the global offering described above is
exempt from registration under the U.S. Securities Act of 1933, as amended
(the "Securities Act"). The shares in the private offering will be offered
and sold only to qualified institutional buyers pursuant to Rule 144A under
the Securities Act and to persons outside the U.S., in accordance with
Regulation S under the Securities Act. The shares have not been registered
under the Securities Act or any state securities laws, and may not be offered
or sold in the United States absent registration or an applicable exemption
from the registration requirements of the Securities Act and applicable state
securities laws.

This press release is for informational purposes only and does not constitute
an offer to sell or a solicitation of an offer to buy the shares of IEnova.
This press release is being issued pursuant to and in accordance with Rule
135c under the Securities Act.

This press release contains statements that are not historical fact and
constitute forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements can be identified
by words like "believes," "expects," "anticipates," "intends," "plans,"
"estimates," "may," "will," "would," "could," "should," "potential," "target,"
"outlook," "depends," "pursue" or similar expressions, and include statements
regarding the company's intention to consummate the offerings of the shares.
Forward-looking statements are not guarantees of performance. They involve
risks, uncertainties and assumptions. Future results may differ materially
from those expressed in the forward-looking statements. Forward-looking
statements are necessarily based upon various assumptions involving judgments
with respect to the future and other risks, including, among others: local,
regional, national and international economic, competitive, political,
legislative and regulatory conditions and developments; actions and timing of
actions by regulatory and governmental bodies in the U.S. and other countries;
capital market conditions, including the availability of credit and the
liquidity of investments; inflation, interest and exchange rates; the timing
and success of business development efforts and construction, maintenance and
capital projects, including risks inherent in the ability to obtain, and the
timing of the granting of, permits, licenses, certificates and other
authorizations; energy markets, including the timing and extent of changes and
volatility in commodity prices; the availability of electric power, natural
gas and liquefied natural gas, including disruptions caused by failures in the
North American transmission grid, pipeline explosions and equipment failures;
weather conditions, natural disasters, catastrophic accidents, and
conservation efforts; risks posed by decisions and actions of third parties
who control the operations of investments in which the company does not have a
controlling interest; wars, terrorist attacks and cyber security threats;
business, regulatory, environmental and legal decisions and requirements;
expropriation of assets by foreign governments and title and other property
disputes; the status of deregulation of retail natural gas and electricity
delivery; the inability or determination not to enter into long-term supply
and sales agreements or long-term firm capacity agreements; the resolution of
litigation; and other uncertainties, all of which are difficult to predict and
many of which are beyond the control of the company. These risks and
uncertainties are further discussed in the reports that Sempra Energy has
filed with the Securities and Exchange Commission. These reports are available
through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and
on the company's website at www.sempra.com.

These forward-looking statements speak only as of the date hereof, and the
company undertakes no obligation to update or revise these forecasts or
projections or other forward-looking statements, whether as a result of new
information, future events or otherwise.

Sempra International, LLC, is not the same company as San Diego Gas & Electric
(SDG&E) or Southern California Gas Company (SoCalGas) and Sempra
International, LLC is not regulated by the California Public Utilities
Commission. Sempra International's underlying entities include IEnova
(formerly Sempra Mexico) and Sempra South American Utilities.

(Logo: http://photos.prnewswire.com/prnh/20110108/SEMPRAENERGYLOGO )

SOURCE Sempra Energy

Website: http://www.sempra.com
Contact: Doug Kline, Sempra Energy, +1-877-340-8875
 
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