Pacific Gas & Electric eyes $750 million two-part note offering; pricing Tuesday

By Aleesia Forni

Virginia Beach, Feb. 18 - Pacific Gas & Electric Co. plans to price a $750 million two-part offering of senior notes on Tuesday in 10-year and 30-year tranches, according to a market source and a 424B5 filing with the Securities and Exchange Commission.

J.P. Morgan Securities LLC, Morgan Stanley & Co., Ramirez & Co. Inc. and RBS Securities Inc. are the joint bookrunners.

The co-managers are BNY Mellon Capital Markets, LLC, CIBC World Markets Corp., Loop Capital Markets LLC, U.S. Bancorp Investments, Inc., Blaylock Beal Van, LLC, Lebenthal & Co., LLC, MFR Securities, Inc. and Mischler Financial Group, Inc.

Proceeds will be used to repay the company's 4.8% notes due March 1, 2014. Remaining proceeds will be used for general corporate purposes, including the repayment of commercial paper.

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

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