01—Abstract
Summary
Summary of the 8-K filed August 4, 2026. Cited figures are marked; the original filing is the authoritative source.
PG&E Corporation and its subsidiary Pacific Gas and Electric Company (the "Utility") filed this Form 8-K to report a debt issuance.
On July 27, 2026, the Utility entered into an Underwriting Agreement covering two series of First Mortgage Bonds: $700,000,000a aggregate principal amount of 5.250% bonds due 2032 and $1,000,000,000 aggregate principal amount of 5.850% bonds due 2036. The Utility completed the sale of these Mortgage Bonds on August 4, 2026. The underwriters named in the exhibits are Barclays Capital Inc., BMO Capital Markets Corp., J.P.
Morgan Securities LLC, and SMBC Nikko Securities America, Inc. The bonds were issued under a Thirty-Fifth Supplemental Indenture dated August 4, 2026, with The Bank of New York Mellon Trust Company, N.A. as trustee. Hunton Andrews Kurth LLP provided a legal opinion dated August 4, 2026. For investors, the filing is a routine financing disclosure.
It sets out the principal amounts and coupon rates of the new secured debt and confirms that the offering closed. The filing does not discuss the use of proceeds, the company's broader financing plans, or its operating results.
02—Key points
Key Highlights
- On July 27, 2026, the Utility entered into an Underwriting Agreement for the issuance of First Mortgage Bonds.
- The Utility issued $700,000,000 aggregate principal amount of 5.250% First Mortgage Bonds due 2032.
- The Utility issued $1,000,000,000 aggregate principal amount of 5.850% First Mortgage Bonds due 2036.
- The Utility completed the sale of the Mortgage Bonds on August 4, 2026.
- Barclays Capital Inc., BMO Capital Markets Corp., J.P. Morgan Securities LLC, and SMBC Nikko Securities America, Inc. are the underwriters named in the Underwriting Agreement.
- The bonds were issued under a Thirty-Fifth Supplemental Indenture dated August 4, 2026, with The Bank of New York Mellon Trust Company, N.A. as trustee.
03—Questions
Frequently Asked Questions
What securities did Pacific Gas and Electric Company sell?
The Utility sold two series of First Mortgage Bonds: $700,000,000 aggregate principal amount of 5.250% bonds due 2032 and $1,000,000,000 aggregate principal amount of 5.850% bonds due 2036.
When was the offering agreed and when did it close?
The Underwriting Agreement was entered into on July 27, 2026, and the Utility completed the sale of the Mortgage Bonds on August 4, 2026.
Who underwrote the bonds?
The Underwriting Agreement is among the Utility and Barclays Capital Inc., BMO Capital Markets Corp., J.P. Morgan Securities LLC, and SMBC Nikko Securities America, Inc.
Under what legal documents were the bonds issued?
The bonds were issued under a Thirty-Fifth Supplemental Indenture dated August 4, 2026, between the Utility and The Bank of New York Mellon Trust Company, N.A., as trustee. The filing includes the forms of the 2032 and 2036 Bonds within that indenture.
Does this filing describe the use of proceeds or the company's financial results?
No. The filing reports only the terms of the Mortgage Bonds and their sale. It does not state how the proceeds will be used and contains no financial results.
04—Continue