PG&E Corp (PCG): debt financing — PG&E Utility enters $500M term loan, borrowed Sep 24, matures Sep 2026

PG&E Corp

$500M term loan fully drawn on 9/24/2025, maturing 9/23/2026.
Interest at Term SOFR +1.25% or base rate +0.25%.
Secured by first mortgage bond under Thirtieth Supplemental Indenture.
Covenant: total consolidated debt to capitalization ratio ≤ 65%.
Proceeds used for general corporate purposes.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

PG&E Corp incurred term loan of $500,000,000 with Wells Fargo Bank, National Association, as administrative agent at Term SOFR plus an applicable margin of 1.25%, or the alternative base rate plus maturing September 23, 2026.

Instrument: term loan
Principal: $500,000,000
Counterparty: Wells Fargo Bank, National Association, as administrative agent
Rate: Term SOFR plus an applicable margin of 1.25%, or the alternative base rate plus
Maturity: September 23, 2026
Event: incurrence

Exact text from the filing

On September 24, 2025, Pacific Gas and Electric Company (the " Utility "), the several lenders and other financial institutions or entities party thereto from time to time and Wells Fargo Bank, National Association, as administrative agent (the " Administrative Agent "), entered into a $500,000,000 Term Loan Credit Agreement (the " Credit Agreement ").

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Source: SEC EDGAR

accession 0001193125-25-215416

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