Pacific Gas and Electric repays in full $500 million term loan

By Marisa Wong

Los Angeles, July 21 – Pacific Gas and Electric Co. prepaid in full all of the loans outstanding under its $500 million term loan credit agreement dated April 4 with MUFG Bank, Ltd. as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

As a result of this prepayment, the term loan was terminated and is no longer outstanding.

The prepayment was made in connection with the issuance of new recovery bonds through PG&E Wildfire Recovery Funding LLC.

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

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