Signaling its intention to keep growing, the energy and metals trading unit of San Diego-based Sempra Energy announced last week that it completed a $1 billion two-year committed credit facility to help finance its global operations that include the marketing and trading of physical and financial commodity products, including natural gas, electricity, petroleum products and base metals.

Twelve major financial institutions extended the line of credit, Sempra Energy Trading said. The line allows for the trading unit to make borrowing-base loans and letters-of-credit up to $1 billion, secured by what Sempra said would be “certain trading company assets.”

In anticipating the trading unit’s continued growth, “this new credit facility will provide (Sempra Energy Trading) financial flexibility and new resources to take advantage of opportunities in the marketplace,” said David Messer, president of the Sempra trading unit, which is part of the utility holding company’s Global Enterprises group of merchant, growth-oriented businesses.

Noting its conservative and asset-based approach to trading, Sempra senior executives continuously reiterate that Sempra’s trading business combines trading and risk-management experience with physical-commodity expertise to provide what it called “innovative solutions” for a worldwide set of customers.

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