secwatch.observer — SEC 8-K summary
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Issuer:     PG&E Corp (PCG)
CIK:        0001004980
Form:       8-K
Filed at:   2023-12-08T23:59:59+00:00
Accession:  0001193125-23-291746
Event type: debt
Sentiment:  positive
Materiality: 0.50
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PG&E amends term loan: margin cut 50 bps, maturity extended to 2027; fixes convertible note settlement method
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- Term loan margin reduced from 300 bps to 250 bps; maturity extended to June 23, 2027.
- After voluntary prepayments, aggregate term loan principal outstanding is $500 million.
- Irrevocable notice fixes settlement method on $2.15B 4.25% convertible notes to Combination Settlement with Specified Dollar Amount ≥ $1,000 per $1,000 principal.
- Dec 4 convertible note issuance of $2.15B referred to but not new; amendment is incremental debt management.
- Lenders include JPMorgan; bank may receive customary compensation for services.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1004980/000119312523291746/0001193125-23-291746-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/75488/000119312523291746/d636341d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-291746

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