Pacific Gas & Electric plans sale of fixed-rate, floating-rate notes

By Devika Patel

Knoxville, Tenn., Nov. 28 – Pacific Gas & Electric Co. intends to offer senior notes in two tranches, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be sold in a fixed-rate tranche and a floating-rate tranche, with the floaters due in November 2017.

The fixed-rate portion will have a make-whole call and a par call. The floaters will be non-callable.

BofA Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Mizuho Securities USA Inc. are the bookrunners.

CIBC, SMBC Nikko, U.S. Bancorp Investments Inc., Lebenthal & Co., LLC, Mischler Financial Group, Inc. and Ramirez & Co., Inc. are the co-managers.

Proceeds will be used to repay the company’s commercial paper, to redeem its $160 million variable rate pollution control bonds due Dec. 1, 2016 and for general corporate purposes.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.