PG&E support agreement, debt commitment approval deadlines extended

By Caroline Salls

Pittsburgh, Nov. 19 – PG&E Corp. entered into an amendment to the restructuring support agreement reached with holders of its insurance subrogation claims, according to an 8-K filed Tuesday with the Securities and Exchange Commission.

The amendment extends the deadline for the company to obtain approval of the support agreement from the U.S. Bankruptcy Court for the Northern District of California to Dec. 6 from Nov. 24.

In addition, PG&E said the debt commitment letters under which the commitment parties agreed to provide $34.35 billion in bridge financing for the company’s plan of reorganization were amended to extend the deadline for obtaining court approval of the debt commitment letters to Dec. 20 from Nov. 20.

The electric and natural-gas utility is based in San Francisco. The company filed bankruptcy on Jan. 29, 2019 under Chapter 11 case number 19-30088.

© 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.