PG&E Corp. (PCG) said on Tuesday that it has obtained $5.5 billion in debtor-in-debt asset financing (debtor-in-debt financing) arrangements. The company plans to file for bankruptcy protection later this month.
The company claims it has partnered with JPMorgan Chase & Co. (JPMorgan Chase & Co. , JPM), Bank of America (Bank of America Co.) , BAC), Barclays PLC ADS (BCS), and Citigroup Inc. (Citigroup Inc., C) reached a debt commitment letter for $5.5 billion in priority guaranteed financing.
PG&E said in documents submitted to the US Securities and Exchange Commission (Securities and Exchange Commission.) that the financing included a $3.5 billion revolving credit arrangement, a $1.5 billion term loan arrangement, and a $500 million deferred withdrawal term loan arrangement.
PG&E said the company also signed a debt commitment letter, according to which J.P. Morgan will provide a $250 million priority guarantee transitional loan arrangement.
By Colin Kellaher; Write to Colin Kellaher at colin.kellaher@wsj.com
Copyright (c) 2019 Dow Jones Company. This article is copyrighted by Dow Jones, Inc., and may not be translated or reprinted without permission.
PG&E获得55亿美元债务人持有资产融资安排
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