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Pacific Gas eyes three-tranche offering of notes to repay $1.2 billion of outstanding debt
By Cristal Cody
Tupelo, Miss., Nov. 27 – Pacific Gas & Electric Co. plans to price three tranches of senior notes in a Rule 144A and Regulation S offering, according to an 8-K filing with the Securities and Exchange Commission on Monday.
Proceeds will be used to repay all $700 million outstanding of the company’s 5.625% senior notes due Nov. 30, 2017, all $250 million outstanding of senior floating-rate notes due Nov. 30, 2017 and a $250 million outstanding floating-rate term loan due Feb. 22, 2018. Any remaining proceeds will be used for general corporate purposes.
The electric and natural gas utility is based in San Francisco.
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