PG&E Corp and PG&E Utility amend credit agreements; extend maturities and boost LC capacity

PG&E Corp

PG&E Corp's revolving credit facility maturity extended to June 22, 2026 (from June 22, 2025).
Pacific Gas and Electric Company's revolver maturity extended to June 22, 2028; LC sublimit raised to $2B.
Uncommitted incremental facility under utility credit agreement increased to up to $1B.
Amendments entered into June 22, 2023; all lenders consented.
No changes to financial covenants or borrowing base; facilities remain at $500M (Corp) and undisclosed (Utility).

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

PG&E Corp amended Amendment No. 3 to Credit Agreement with the several banks and other financial institutions or entities party thereto from time to time and Citibank, N.A., as administrative agent and designated agent (effective 2023-06-22).

Action: amendment
Agreement: credit facility
Counterparty: the several banks and other financial institutions or entities party thereto from time to time and Citibank, N.A., as administrative agent and designated agent
Effective: 2023-06-22

Exact text from the filing

On June 22, 2023, Pacific Gas and Electric Company, the several banks and other financial institutions or entities party thereto from time to time and Citibank, N.A., as administrative agent and designated agent, entered into Amendment No. 3 to Credit Agreement (the “ Utility Amendment ”) that amended that certain Credit Agreement, dated as of July 1, 2020 (as previously amended and as amended by the Utility Amendment, the “ Utility Revolving Credit Agreement ”).

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Source: SEC EDGAR

accession 0001193125-23-175133

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