PG&E will use new mortgage bonds to repay $300 million revolver

Chicago, Nov. 10 – Pacific Gas & Electric Co. plans to use a new offering of mortgage bonds in three parts to repay the $300 million drawn under the company’s credit facility, according to a 424B5 filing with the Securities and Exchange Commission.

Proceeds will also be used to repay the $1.45 billion of floating-rate first mortgage bonds that are due Nov. 15.

The electric and natural gas utility is based in San Francisco.

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