PG&E will repay utility revolving credit facility with new bonds

Chicago, June 6 – Pacific Gas & Electric Co. said that it will use the proceeds from a tripart offering of first mortgage bonds to repay borrowings on its utility credit facility with a June 22, 2026 maturity date, according to a 424B5 filing with the Securities and Exchange Commission.

There was $2.56 billion outstanding on the floating-rate credit facility on Friday.

The current interest rate is 2.813%.

Proceeds of the utility revolver had been used for general corporate purposes.

The electric and natural gas utility is based in San Francisco.

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