---
schema_version: "secwatch.filing_event.v1"
accession: "0000075594-26-000015"
form_type: "8-K"
ticker: null
cik: "0000075594"
company_name: "PACIFICORP /OR/"
filed_at: "2026-04-06T23:59:59+00:00"
generated_at: "2026-05-15T07:29:04.122113+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# PacifiCorp enters $2.55B LC facility and surety bonds for wildfire appeal

## Summary
- LC facility from PNC Bank and others: $2.55B aggregate, two-year term, to secure surety bonds for James wildfire judgment appeals.
- Surety facility with Euler Hermes: up to $2.55B, fully collateralized by LCs, for supersedeas bonds stay judgments pending appeal.
- Fees: 12.5 bps annual commitment premium; 35 bps per annum on drawn amounts.
- Regulatory approvals required (Idaho PUC, Oregon PUC) before issuance effective date by Sept 30, 2026.
- Event of default triggers 103% cash collateral requirement and acceleration of reimbursement obligations.

## SEC filing metadata
- accession: 0000075594-26-000015
- form_type: 8-K
- cik: 0000075594
- company_name: PACIFICORP /OR/
- filed_at: 2026-04-06T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 8.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/75594/000007559426000015/0000075594-26-000015-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/75594/000007559426000015/pacificorp-20260402.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000075594-26-000015
- JSON: https://secwatch.observer/filing/0000075594-26-000015.json
- Plain text: https://secwatch.observer/filing/0000075594-26-000015.txt

## Source-grounded claims
- claim_id: e435945dc01a43be5a01869d155a1d528cceba78
  claim: PACIFICORP /OR/ incurred credit facility of up to $2.55 billion with PNC Bank, National Association, as administrative agent; PNC Capital Markets LLC, as lead arranger; and the financial institutions party thereto as issuing banks at letter of credit fees and commitment fees at per-annum rates tied to PacifiCorp' maturing two-year standby letter of credit facility; letters of credit may be issued until the earlier of the second anniversary of the Issuance Effective Date and the t.
  evidence_excerpt: Court (the “ James Judgments ”). The LC Agreement provides for a two-year, multi-bank, standby letter of credit facility for PacifiCorp in an aggregate stated amount of up to $2.55 billion (the “ Aggregate Commitment ”). Letters of credit may be issued from the Issuance Effective Date (as defined below) until the earlier of the second anniversary of that date and
  evidence_url: https://www.sec.gov/Archives/edgar/data/75594/000007559426000015/0000075594-26-000015-index.htm
- claim_id: 9bf85eb05a990715e55bf00fb4f7918ebc5dd3ce
  claim: PACIFICORP /OR/ entered into LC Agreement with PNC Bank, National Association, as administrative agent, the financial institutions party thereto as issuing banks, and PNC Capital Markets LLC, as lead arranger (effective 2026-04-03).
  evidence_excerpt: On April 3, 2026, PacifiCorp entered into a Letter of Credit Agreement (the “ LC Agreement ”) with PNC Bank, National Association, as administrative agent, the financial institutions party thereto as issuing banks (the “ Issuing Banks ”), and PNC Capital Markets LLC, as lead arranger.
  evidence_url: https://www.sec.gov/Archives/edgar/data/75594/000007559426000015/0000075594-26-000015-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.