By Sheri Kasprzak
New York, Oct. 31 - The Pacific Gas and Electric Co. priced $309 million in tax-exempt pollution control bonds on Wednesday, according to a filing made Friday with the Securities and Exchange Commission. The bonds were sold through the California Infrastructure and Economic Development Bank.
The bonds are due 2016 and 2026 with an initial rate of 1.75%. The rate resets weekly.
Proceeds will be used to reimburse the utility for its purchase of auction-rate pollution control bonds issued in 2005.
| Issuer: | Pacific Gas and Electric Co.
|
| Issue: | Tax-exempt pollution control bonds
|
| Amount: | $309 million
|
| Maturities: | 2016 and 2026
|
| Coupon: | 1.75%
|
| Price: | Par
|
| Pricing date: | Oct. 29
|
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