PG&E Utility issues $2B in First Mortgage Bonds: 5.000% 2028, 5.050% 2032, 6.100% 2055

PG&E Corp

Issued $400M 5.000% First Mortgage Bonds due 2028, $850M 5.050% due 2032, $750M 6.100% due 2055.
Closing occurred on October 2, 2025; total proceeds intended for general corporate purposes.
2028 Bonds are a reopening of series issued June 4, 2025; outstanding now $800M.
Underwriting syndicate led by Barclays, BNP Paribas, MUFG, and RBC Capital Markets.
Debt is secured by first mortgage lien on Pacific Gas and Electric Company property.

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