---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-284719"
form_type: "8-K"
ticker: "PCG"
cik: "0001004980"
company_name: "PG&E Corp"
filed_at: "2023-11-29T23:59:59+00:00"
generated_at: "2026-06-07T20:10:37.482089+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# PG&E Corp launches $1.5B convertible senior secured notes offering due 2027

## Summary
- $1.5B aggregate principal amount of Convertible Senior Secured Notes due 2027; option to increase by $225M.
- Net proceeds to repay portion of $2.75B term loan (approx $2.66B outstanding, ~8.44% floating rate).
- Notes mature Dec 1, 2027; secured by pledge of 100% of PG&E's ownership in Pacific Gas and Electric Company.
- Conversion at holder's option after Sept 1, 2027; company intends to settle conversions with $1,000 cash per $1,000 principal plus stock.
- PG&E may opportunistically extend existing $2.75B term loan credit agreement (matures June 2025) after pricing.

## SEC filing metadata
- accession: 0001193125-23-284719
- form_type: 8-K
- ticker: PCG
- cik: 0001004980
- company_name: PG&E Corp
- filed_at: 2023-11-29T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1004980/000119312523284719/0001193125-23-284719-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/75488/000119312523284719/d615442d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-284719
- JSON: https://secwatch.observer/filing/0001193125-23-284719.json
- Plain text: https://secwatch.observer/filing/0001193125-23-284719.txt

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