Published on 5/7/2014 in the Prospect News Investment Grade Daily.
New Issue: Pacific Gas and Electric sells $300 million one-year floaters at Libor plus 20 bps
By Aleesia Forni
Virginia Beach, May 7 - Pacific Gas and Electric Co. priced $300 million of floating-rate senior notes due May 11, 2015 at par to yield Libor plus 20 basis points on Wednesday, according to a FWP filed with the Securities and Exchange Commission.
BofA Merrill Lynch and Mizuho Securities USA Inc. were the joint bookrunners.
The electric and natural gas utility is based in San Francisco.
Issuer: | Pacific Gas and Electric Co.
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Amount: | $300 million
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Description: | Senior notes
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Maturity: | May 11, 2015
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Bookrunners: | BofA Merrill Lynch, Mizuho Securities USA Inc.
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Co-manager: | Apto Partners LLC
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Coupon: | Libor plus 20 bps
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Price: | Par
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Yield: | Libor plus 20 bps
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Trade date: | May 7
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Settlement date: | May 12
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Distribution: | SEC-registered
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