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Pacific Gas to sell floating-rate first mortgage bonds due 2021
By Devika Patel
Knoxville, Tenn., Nov. 12 – Pacific Gas & Electric Co. intends to offer floating-rate first mortgage bonds due 2021, according to a 424B5 filing with the Securities and Exchange Commission.
Interest will be based on Libor.
The bonds are non-callable.
BofA Securities Inc., Mizuho Securities USA Inc., MUFG and Wells Fargo Securities LLC are the bookrunners.
Proceeds will be used for general corporate purposes, including repaying debt under the company's accounts receivable facility and its revolving credit facility.
The electric and natural gas utility is based in San Francisco.
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