PG&E Corp. Completes $1.5B Senior Notes Offering

TL;DR

PG&E just closed a $1.5B debt offering for 2034 notes.

AI Summary

On September 9, 2024, PG&E Corp. filed an 8-K to report the completion of its previously announced offering of $1.5 billion aggregate principal amount of 5.350% Senior Notes due 2034. The offering was made pursuant to an indenture dated October 26, 2023, and the notes were issued under the company's existing shelf registration statement.

Why It Matters

This filing indicates PG&E Corp. has successfully raised significant capital, which could be used for operational needs, debt refinancing, or capital expenditures, impacting its financial structure and future investments.

Risk Assessment

Risk Level: low — The filing is a routine debt issuance announcement, not indicating new or elevated risks for the company.

Key Numbers

• $1.5B — Senior Notes Offering (Amount of capital raised by PG&E Corp.)
• 5.350% — Interest Rate (Coupon rate on the Senior Notes due 2034)
• 2034 — Maturity Year (Year the Senior Notes will mature)

Key Players & Entities

• PG&E Corp. (company) — Filer
• $1.5 billion (dollar_amount) — Aggregate principal amount of Senior Notes offered
• 5.350% Senior Notes due 2034 (dollar_amount) — Details of the debt offering
• October 26, 2023 (date) — Date of the indenture for the notes

FAQ

Key Financial Figures

• $25 — preferred stock, cumulative, par value $25 per share, 6% nonredeemable PCG-PA
• $1,000,000,000 — PG&E Corporation completed the sale of $1,000,000,000 aggregate principal amount of 7.375% Fi

Filing Documents

• d692150d8k.htm (8-K) — 53KB
• d692150dex11.htm (EX-1.1) — 159KB
• d692150dex41.htm (EX-4.1) — 393KB
• d692150dex42.htm (EX-4.2) — 168KB
• d692150dex51.htm (EX-5.1) — 10KB
• d692150dex81.htm (EX-8.1) — 15KB
• g692150g0911062400795.jpg (GRAPHIC) — 3KB
• g692150g0911091519470.jpg (GRAPHIC) — 2KB
• g692150g0911095048815.jpg (GRAPHIC) — 4KB
• g692150g0911095049094.jpg (GRAPHIC) — 4KB
• 0001193125-24-217249.txt ( ) — 1225KB
• pcg-20240909.xsd (EX-101.SCH) — 7KB
• pcg-20240909_cal.xml (EX-101.CAL) — 1KB
• pcg-20240909_def.xml (EX-101.DEF) — 19KB
• pcg-20240909_lab.xml (EX-101.LAB) — 31KB
• pcg-20240909_pre.xml (EX-101.PRE) — 19KB
• d692150d8k_htm.xml (XML) — 17KB

Financial Statements and Exhibits

Financial Statements and Exhibits (d) Exhibits. Exhibit No. Description 1.1 Underwriting Agreement, dated as of September 9, 2024, by and among PG&E Corporation, Barclays Capital Inc., BofA Securities, Inc., Mizuho Securities USA LLC and Wells Fargo Securities, LLC 4.1 Subordinated Note Indenture, dated as of September 11, 2024, between PG&E Corporation and The Bank of New York Mellon Trust Company, N.A., as Trustee 4.2 First Supplemental Indenture, dated as of September 11, 2024 between PG&E Corporation and The Bank of New York Mellon Trust Company, N.A., as Trustee (including the form of the Notes) 5.1 Opinion of Hunton Andrews Kurth LLP, dated September 11, 2024 8.1 Opinion of Hunton Andrews Kurth LLP, dated September 11, 2024 23.1 Consent of Hunton Andrews Kurth LLP (included in Exhibit 5.1 above) 23.2 Consent of Hunton Andrews Kurth LLP (included in Exhibit 8.1 above) 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized. PG&E CORPORATION Date: September 11, 2024 By: /s/ Carolyn J. Burke Name: Carolyn J. Burke Title: Executive Vice President and Chief Financial Officer PACIFIC GAS AND ELECTRIC COMPANY Date: September 11, 2024 By: /s/ Stephanie N. Williams Name: Stephanie N. Williams Title: Vice President, Chief Financial Officer and Controller

View Full Filing

View this 8-K filing on SEC EDGAR