By Andrea Heisinger
New York, Nov. 17 - Pacific Gas & Electric Co. priced $250 million of one-year senior floating-rate notes on Thursday at par to yield Libor plus 45 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (A3/BBB+/) are non-callable.
RBS Securities Inc. and Wells Fargo Securities LLC were the bookrunners. The co-manager was Loop Capital Markets LLC.
Proceeds will be used to support the liquidity requirements relating to commodity hedging activities by repaying commercial paper.
The electric and natural gas company is based in San Francisco.
Issuer: | Pacific Gas & Electric Co.
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Issue: | Senior floating-rate notes
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Amount: | $250 million
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Maturity: | Nov. 20, 2012
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Bookrunners: | RBS Securities Inc., Wells Fargo Securities LLC
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Co-manager: | Loop Capital Markets LLC
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Coupon: | Libor plus 45 bps
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Price: | Par
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Yield: | Libor plus 45 bps
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Call: | Non-callable
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Trade date: | Nov. 17
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Settlement date: | Nov. 22
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Ratings: | Moody's: A3
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| Standard & Poor's: BBB+
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