Sempra Energy announced July 10 that it plans public offerings of $1.1 billion of common stock as well as $500 million of mandatory convertible preferred stock.

In connection with the $1.1 billion of common stock, Sempra (NYSE: SRE) will enter forward sale agreements with affiliates of Citigroup and J.P. Morgan.

Sempra said it plans to use net proceeds to repay outstanding bonds, to fund working capital and for general corporate purposes.

The business made the announcement after the markets closed. Shares of Sempra closed at $117.30 on July 10. Shortly after the announcement, shares fell to $114.22 in after-hours trading.

Sempra said it intends to grant its underwriters options to purchase up to an additional $165 million of shares of its common stock and up to an additional $75 million of shares of the mandatory convertible preferred stock.

Citigroup and J.P. Morgan are acting as joint book runners of the equity offerings and representatives of the underwriters.

Sempra is a San Diego-based energy services holding company and parent to San Diego Gas & Electric Co.