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PG&E wraps amended term loan with extra $250 million repayment
Chicago, Dec. 8 – PG&E Corp.’s term loan was officially signed and amended on Dec. 8, according to an 8-K filing with the Securities and Exchange Commission.
The amended term loan, after figuring voluntary prepayments on Dec. 4 and Dec. 8, stands at $500 million.
The company used the proceeds from a convertible offering for the first payment and the proceeds of the greenshoe for the additional payment, according to plans announced previously in a press release. The term loan pre-amendment was sized at about $2.66 billion.
The term loan matures June 23, 2027.
Previously reported, interest will now be at SOFR plus 250 bps, a reduction from 300 bps.
JPMorgan Chase Bank, NA is the administrative agent.
PG&E is an Oakland, Calif.-based energy company.
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