By Andrea Heisinger
New York, March 9 - PG&E Corp. sold an upsized $350 million of 5.75% five-year notes Monday to yield Treasuries plus 395 basis points, a market source said.
The size was originally $250 million, the source said.
The notes (Baa1/BBB/) priced at 99.456 to yield 5.875% with a make-whole call at Treasuries plus 50 bps.
Bookrunners were Citigroup Global Markets Inc., Goldman Sachs & Co. and Bank of New York Mellon.
Co-managers were Williams Capital Group LP, Samuel A. Ramirez & Co. and Utendahl Capital Partners.
Proceeds will be contributed to its subsidiary, Pacific Gas & Electric Co., which will use them for general corporate purposes.
The company provides electric and natural gas services through its subsidiaries and is based in San Francisco.
Issuer: | PG&E Corp.
|
Issue: | Notes
|
Amount: | $350 million, increased from $250 million
|
Maturity: | April 1, 2014
|
Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs & Co., Bank of New York Mellon
|
Co-managers: | Williams Capital Group LP, Samuel A. Ramirez & Co., Utendahl Capital Partners
|
Coupon: | 5.75%
|
Price: | 99.456
|
Yield: | 5.875%
|
Spread: | Treasuries plus 395 bps
|
Call: | Make-whole at Treasuries plus 50 bps
|
Trade date: | March 9
|
Settlement date: | March 12
|
Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.