PG&E Corporation Announces Upsize and Pricing of $1.9 Billion Convertible Senior Secured Notes due 2027 to Prepay Portion of Existing Term Loan
OAKLAND, Calif., Nov. 29, 2023 /PRNewswire/ — PG&E Corporation (NYSE: PCG) announced the pricing of its offering of $1.9 billion aggregate principal amount of 4.25% Convertible Senior Secured Notes due 2027 (the “Convertible Notes”) in a private placement under the Securities Act of 1933, as amended (the “Securities Act”), reflecting an upsize of $400 million over the previously announced offering size. PG&E Corporation also granted to the initial purchasers of the Convertible Notes an option to purchase, for settlement within a 13-day period from, and including, the date on which the Convertible Notes are first issued, up to an additional $250 million aggregate principal amount of the Convertible Notes. The sale of the Convertible Notes is expected to close on December 4, 2023, subject to customary closing conditions.
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