Highest-materiality recent filing
Pacific Gas and Electric Company revolver increased from $5.4B to $6.25B; maturity extended to June 20, 2031.
PG&E subsidiary issues $2.2B in First Mortgage Bonds across three tranches
Issued $400M 6.100% due 2029, $1B 5.200% due 2036, $800M 6.000% due 2056.
PG&E Corp. completes $1B offering of 6.850% fixed-to-fixed reset junior subordinated notes due 2056
Aggregate principal $1,000,000,000; interest rate 6.850% fixed-to-fixed reset.
PG&E Utility issues $2B in First Mortgage Bonds: 5.000% 2028, 5.050% 2032, 6.100% 2055
Issued $400M 5.000% First Mortgage Bonds due 2028, $850M 5.050% due 2032, $750M 6.100% due 2055.
PG&E issues $1.75 billion in first mortgage bonds due 2035 and 2055
Pacific Gas and Electric issued $1 billion of 5.700% First Mortgage Bonds due 2035 and $750 million of 6.150% First Mortgage Bonds due 2055
PG&E secures $15B DOE loan guarantee for hydro, battery, transmission projects
PG&E enters $15B DOE loan guarantee (Title XVII) to fund eligible energy infrastructure projects.
PG&E raises $1.61B through 6% Series A mandatory convertible preferred stock offering
Issued 28M shares of 6.000% Series A Mandatory Convertible Preferred Stock at $50 liquidation preference; overallotment option for 4.2M shares fully exercised.
Sold 48.66 million shares of common stock at $20.55 per share for approximately $1B in common offering.
PG&E declares Q4 dividend increase to $0.025, reaffirms 2024-2028 core EPS growth guidance
CEO Patricia Poppe's offer letter extended through Jan 4, 2031; automatic renewal.
PG&E sells $1B of 7.375% junior subordinated notes due 2055
Aggregate principal amount of $1,000,000,000 at 7.375% fixed-to-fixed reset rate.
PG&E Recovery Funding LLC issues $1.419B in Senior Secured Recovery Bonds backed by CPUC order
$1,419,285,000 Senior Secured Recovery Bonds Series 2024-A issued August 1, 2024 by PG&E Recovery Funding LLC.
PG&E completes $2.25B debt issuance of first mortgage bonds in three tranches
Sold $850M of 5.550% First Mortgage Bonds due 2029, $1.1B of 5.800% due 2034, $300M of 6.750% due 2053.
PG&E issues $2.15B of 4.25% Convertible Senior Secured Notes due 2027
Completed sale of $2.15B aggregate principal (includes $250M from full exercise of initial purchasers' option) of 4.25% Convertible Senior Secured Notes due December 1, 2027.
PG&E upsizes and prices $1.9B convertible notes offering to prepay term loan
Priced $1.9B of 4.25% Convertible Senior Secured Notes due 2027, up $400M from prior announcement.
PG&E Corp launches $1.5B convertible senior secured notes offering due 2027
$1.5B aggregate principal amount of Convertible Senior Secured Notes due 2027; option to increase by $225M.
PG&E narrows 2023 core EPS to $1.20-1.23, initiates 2024 $1.31-1.35; reinstates dividend
Narrowed 2023 non-GAAP core EPS to $1.20-$1.23; initiated 2024 guidance $1.31-$1.35; no new equity in 2023-2024.
CPUC PD/APD would grant PG&E 2023 GRC revenue well below request
PD authorizes $13.82B for 2023 vs. $15.41B requested; APD $13.31B. Gap widens in out-years.
On October 11, 2024, Robert C. Flexon, a member of the boards of directors (the “Boards”) of PG&E Corporation and Pacific Gas and Electric Company (the “Utility”) and Chair of the Board of PG&E Corporation, notified PG&E Corporation and the Utility of his decision to resign from the Boards, effective October 31, 2024.
The Board of PG&E Corporation appointed Kerry W. Cooper to be Chair of the Board of PG&E Corporation, effective upon Mr. Flexon’s resignation.
On August 10, 2023, Julius Cox, Executive Vice President, People, Shared Services and Supply Chain of PG&E Corporation and Pacific Gas and Electric Company (the “Utility”) informed PG&E Corporation and the Utility that he is resigning from his positions effective September 25, 2023 to pursue another opportunity.
The Board also appointed Ms. Burke as Executive Vice President and Chief Financial Officer of PG&E Corporation, effective as of the departure of Christopher A. Foster, which is scheduled to occur on May 4, 2023.
Christopher A. Foster, Executive Vice President and Chief Financial Officer of PG&E Corporation, informed PG&E Corporation that he is resigning from his positions effective May 4, 2023 to pursue another opportunity as Executive Vice President and Chief Financial Officer of CenterPoint Energy, Inc.
On February 24, 2023, Edward G. Cannizzaro was elected to the boards of directors (the “Boards”) of PG&E Corporation and its subsidiary Pacific Gas and Electric Company (the “Utility”), effective immediately.
Sumeet Singh was appointed to serve as a member of the Board of Directors and Executive Vice President, Operations and Chief Operating Officer of the Utility, effective March 1, 2023.
On February 6, 2023, Adam L. Wright, a member of the Board of Directors and Executive Vice President, Operations and Chief Operating Officer of the Utility informed the Utility that he is resigning from his positions effective March 1, 2023 to pursue an opportunity as chief executive officer of another company.
On February 10, 2023, the Board of Directors of Pacific Gas and Electric Company (the “Utility”), a subsidiary of PG&E Corporation, appointed Sumeet Singh, 44, as a member of the Board of Directors and Executive Vice President, Operations and Chief Operating Officer of the Utility, effective March 1, 2023.
The Board of the Utility appointed Cheryl F. Campbell as chair of the Board of the Utility.
On December 13, 2022, Dean L. Seavers, a member of the boards of directors (the “Boards”) of PG&E Corporation and Pacific Gas and Electric Company (the “Utility”), notified PG&E Corporation and the Utility of his decision to resign from the Boards, effective December 15, 2022.
he is resigning from his positions effective January 9, 2023 to pursue another opportunity.
Max materiality 0.90 · Median 0.50 · Most common event debt