Business & Practice

PG&E Kicks Off Debt Sale to Finance Its Way Out of Bankruptcy

June 15, 2020, 1:43 PM

PG&E Corp. is beginning a jumbo bond and loan sale to help finance its way out of the biggest utility bankruptcy in U.S. history.

The company said Monday in a regulatory filing that it’s selling bonds, and also began marketing a planned $1 billion term loan, according to people with knowledge of the matter who asked not to be named because the offering is private.

The $3.75 billion of senior-secured notes may be issued in as many as three parts with five, eight and ten-year portions, according to the regulatory filing. An investor call will be held Wednesday and the...

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