PG&E powers up with $6.7bn bond issue

news

may04-news6-gif

California utility Pacific Gas and Electric Company (PG&E) emerged from bankruptcy protection in April, after issuing a mammoth $6.7 billion first mortgage bond offering to help finance a $12 billion repayment to the company’s bondholders.

The largest bond offering ever brought by an electric utility in the US, the deal came to market in four fixed-rate tranches and one floating-rate tranche, the largest of which was a $3 billion, 30-year tranche priced at 140 basis points over Treasuries.

A

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: