Hunton Andrews Kurth Advises Pacific Gas and Electric Company on $2.5 Billion First Mortgage Bonds Offering

Hunton Andrews Kurth LLP advised Pacific Gas and Electric Company (“PG&E”) in connection with its issuance of (i) $850 million aggregate principal amount of 6.100% First Mortgage Bonds due 2029, (ii) $1.15 billion aggregate principal amount of 6.400% First Mortgage Bonds due 2033 and (iii) $500 million aggregate principal amount of 6.750% First Mortgage Bonds due 2053. The $500 million issuance of 6.750% First Mortgage Bonds due 2053 constituted a reopening of the series originally issued on January 6, 2023.

PG&E, a subsidiary of PG&E Corporation, is a public utility operating company in northern and central California. It was incorporated in California in 1905 and provides natural gas and electric service to approximately 16 million people throughout a 70,000-square-mile service area in northern and central California. PG&E generates revenues mainly through the sale and delivery of electricity and natural gas to customers.

The Hunton Andrews Kurth team included Michael F. Fitzpatrick, Patrick C. Jamieson, Reuben H. Pearlman and Jingyi “Alice” Yao. Robert McNamara, William Freeman and Drew Hermiller provided tax advice. Robert Johnson and Christopher Hasbrouck provided real estate advice. Eric Nedell provided credit facility advice.