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PG&E talks $2.736 billion term loan at Libor plus 300-325 bps
By Sara Rosenberg
New York, Jan. 25 – PG&E Corp. is seeking a $2.736 billion term loan that is talked at Libor plus 300 basis points to 325 bps with a 0.5% Libor floor and a par issue price, according to a market source.
J.P. Morgan Securities LLC is the lead on the deal.
Proceeds will be used to reprice an existing term loan from Libor plus 450 bps with a 1% Libor floor.
PG&E is a San Francisco-based electric and natural gas utility.
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