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PG&E 8-K Report, Corporate Update (Sep 11, 2024)

Reports
Other Events·Exhibits & Filings
Filing Date
Filed September 11, 2024
Period End
September 9, 2024
In the record · 2016–202610-K1310-Q338-K367

PCG filed 13 annual reports (10-K), 33 quarterly reports (10-Q) and 367 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Jul ’18Jul ’18
  2. Bankruptcy8-K · Jun ’20Jun ’20
  3. Material agreement8-K · Apr ’22Apr ’22
  4. Material agreement8-K · Jun ’26Jun ’26

01—Abstract

Summary

Summary of the 8-K filed September 11, 2024. Cited figures are marked; the original filing is the authoritative source.

On September 11, 2024, PG&E Corporation completed the sale of $1,000,000,000a aggregate principal amount of 7.375% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2055.

The notes were issued under a Subordinated Note Indenture dated September 11, 2024, as supplemented by a First Supplemental Indenture of the same date, between PG&E Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee. The filing lists the underwriting agreement, dated September 9, 2024, with Barclays Capital Inc., BofA Securities, Inc., Mizuho Securities USA LLC and Wells Fargo Securities, LLC. It also includes the indentures, the form of the notes, and opinions and consents from Hunton Andrews Kurth LLP dated September 11, 2024.

The cover page identifies both PG&E Corporation and Pacific Gas and Electric Company as registrants. The filing reports the debt issuance and related documents only and does not include other financial results.

02—Key points

Key Highlights

  1. Completed sale of $1,000,000,000 aggregate principal amount of 7.375% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2055 on September 11, 2024.
  2. The notes are junior subordinated obligations issued under a Subordinated Note Indenture and a First Supplemental Indenture, both dated September 11, 2024.
  3. The Bank of New York Mellon Trust Company, N.A. serves as trustee under the indenture.
  4. Underwriting agreement dated September 9, 2024 with Barclays Capital Inc., BofA Securities, Inc., Mizuho Securities USA LLC and Wells Fargo Securities, LLC.
  5. Hunton Andrews Kurth LLP provided opinions dated September 11, 2024, filed as Exhibits 5.1 and 8.1, with related consents as Exhibits 23.1 and 23.2.
  6. The filing is a joint report for PG&E Corporation and Pacific Gas and Electric Company.

03—Questions

Frequently Asked Questions

  1. What securities did PG&E Corporation issue?

    PG&E Corporation completed the sale of $1,000,000,000 aggregate principal amount of 7.375% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2055 on September 11, 2024.

  2. Under what documents were the notes issued?

    The notes were issued under a Subordinated Note Indenture dated September 11, 2024, as amended and supplemented by a First Supplemental Indenture dated the same day, between PG&E Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee.

  3. Who underwrote the offering?

    The underwriting agreement dated September 9, 2024 was among PG&E Corporation, Barclays Capital Inc., BofA Securities, Inc., Mizuho Securities USA LLC and Wells Fargo Securities, LLC.

  4. Who is the trustee for the notes?

    The Bank of New York Mellon Trust Company, N.A. is the trustee under the Subordinated Note Indenture and the First Supplemental Indenture.

  5. Which entities are covered by this report?

    The cover page lists both PG&E Corporation and Pacific Gas and Electric Company as registrants.

04—Continue

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