secwatch.observer — SEC 8-K summary
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Issuer:     PG&E Corp (PCG)
CIK:        0001004980
Form:       8-K
Filed at:   2023-11-20T23:59:59+00:00
Accession:  0001193125-23-280664
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PG&E Utility enters $2.1B bridge term loan with Barclays, matures Aug 2024
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- Borrowed $2.1B on Nov 15, 2023 from Barclays Bank PLC and other lenders under a bridge term loan credit agreement.
- Maturity Aug 15, 2024; interest at Term SOFR+1.25% or ABR+0.25%.
- Secured by a first mortgage bond; prepayment required with 100% net cash from Pacific Generation LLC debt issuance.
- Covenant requires total consolidated debt to capitalization ≤ 65% each fiscal quarter.
- Entire amount drawn on the same day; proceeds for general corporate purposes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1004980/000119312523280664/0001193125-23-280664-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/75488/000119312523280664/d492663d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-280664

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