Highest-materiality recent filing
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.
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.
Max materiality 0.90 · Median 0.50 · Most common event debt