PG&E Corp 8-K, filed Feb 4, 2020
PG&E Corp (PCG)
8-K
2020-02-04
For: 2020-01-29
View Original
Added on
April 03, 2026
About this 8-K
PG&E Corp filed this 8-K on February 4, 2020, reporting on events of January 29, 2020.
Items reported
- Item 2.03: New debt or off-balance-sheet obligation
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: January 29, 2020
(Date of earliest event reported)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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Emerging growth company
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PG&E Corporation
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Emerging growth company
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Pacific Gas and Electric Company
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised
financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
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PG&E Corporation
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☐
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Pacific Gas and Electric Company
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☐
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Item 2.03. Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant.
As previously disclosed, PG&E Corporation and Pacific Gas and Electric Company (the “Utility”) are party to a Senior Secured Superpriority
Debtor-in-Possession Credit, Guaranty and Security Agreement, dated as of February 1, 2019 (the “DIP Credit Agreement”), among the Utility, as borrower, PG&E Corporation, as guarantor, JPMorgan Chase Bank, N.A., as administrative agent, Citibank,
N.A., as collateral agent, and the lenders and issuing banks party thereto. The DIP Credit Agreement provides for an aggregate of $5.5 billion in senior secured superpriority debtor-in-possession credit facilities, which include a delayed draw term
loan facility in an aggregate principal amount of $500 million (the “DIP Delayed Draw Term Loan Facility”), subject to the terms and conditions set forth therein.
On January 29, 2020, in light of the fact that the commitments under the DIP Delayed Draw Term Loan Facility would have expired at the close of the business
day, the Utility borrowed the full $500 million thereunder. No additional amounts are available under the DIP Delayed Draw Term Loan Facility.
The proceeds of the borrowings under the DIP Delayed Draw Term Loan Facility are expected to be used for working capital and general corporate purposes.
Any description of PG&E Corporation’s or the Utility’s respective credit agreements is qualified in its entirety by reference to the information
provided in their Current Report on Form 8-K filed on February 1, 2019 and the complete copies of the DIP Credit Agreement filed as Exhibit 10.1 thereto, which are incorporated herein by reference.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned thereunto
duly authorized.
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PG&E CORPORATION
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By:
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/s/ JASON P. WELLS
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Dated: February 4, 2020
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Jason P. Wells
Executive Vice President and Chief Financial Officer
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PACIFIC GAS AND ELECTRIC COMPANY
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By:
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/s/ DAVID S. THOMASON
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Dated: February 4, 2020
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David S. Thomason
Vice President, Chief Financial Officer and Controller
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