M
ME NEWS
25 Jun 2025, 08:51
PG&E Corporation and Pacific Gas and Electric Company Expand and Extend Credit Agreements
OAKLAND, CA – June 24, 2025 – PG&E Corporation (NYSE: PCG) and its subsidiary, Pacific Gas and Electric Company, have each announced the successful execution of significant amendments to their respective revolving credit agreements, strengthening their liquidity positions and extending financial flexibility.
Pacific Gas and Electric Company – Utility Credit Agreement
On June 23, 2025, Pacific Gas and Electric Company signed Amendment No. 5 to its Utility Revolving Credit Agreement, originally dated July 1, 2020. The key changes include:
Extension of maturity to June 21, 2030.
Increase in total lender commitments from $4.4 billion to $5.4 billion.
Adjustments to the interest rate and commitment fee pricing grids to reflect updated market terms.
Citibank, N.A. acted as the administrative and designated agent.
PG&E Corporation – Corporate Credit Agreement
Simultaneously, PG&E Corporation entered into Amendment No. 5 to its Corporate Revolving Credit Agreement. Highlights of the amendment are:
Extension of maturity to June 22, 2028.
Increase in aggregate lender commitments from $500 million to $650 million.
Revised pricing terms for interest and fees.
JPMorgan Chase Bank, N.A. served as the administrative agent.
Both amendments support PG&E’s ongoing commitment to prudent financial management and provide enhanced liquidity for operational and strategic purposes.
OAKLAND, CA – June 24, 2025 – PG&E Corporation (NYSE: PCG) and its subsidiary, Pacific Gas and Electric Company, have each announced the successful execution of significant amendments to their respective revolving credit agreements, strengthening their liquidity positions and extending financial flexibility.
Pacific Gas and Electric Company – Utility Credit Agreement
On June 23, 2025, Pacific Gas and Electric Company signed Amendment No. 5 to its Utility Revolving Credit Agreement, originally dated July 1, 2020. The key changes include:
Extension of maturity to June 21, 2030.
Increase in total lender commitments from $4.4 billion to $5.4 billion.
Adjustments to the interest rate and commitment fee pricing grids to reflect updated market terms.
Citibank, N.A. acted as the administrative and designated agent.
PG&E Corporation – Corporate Credit Agreement
Simultaneously, PG&E Corporation entered into Amendment No. 5 to its Corporate Revolving Credit Agreement. Highlights of the amendment are:
Extension of maturity to June 22, 2028.
Increase in aggregate lender commitments from $500 million to $650 million.
Revised pricing terms for interest and fees.
JPMorgan Chase Bank, N.A. served as the administrative agent.
Both amendments support PG&E’s ongoing commitment to prudent financial management and provide enhanced liquidity for operational and strategic purposes.