PG&E Utility raises $2.2B through secured bond offering with rates up to 6.3%

Filed June 3, 2026 · Period ending June 1, 2026 · ~1 min read

Key Changes

• high

  Pacific Gas and Electric Company issued $2.2 billion in first mortgage bonds across three tranches: $800M due 2031 at 5.050%, $800M due 2036 at 5.600%, and $600M due 2056 at 6.300%. The bonds are secured by utility assets.

  Item 1.01 view on EDGAR →
• medium

  The offering closed June 3, 2026, just two days after the underwriting agreement was signed with four investment banks including BNP Paribas, Citigroup, MUFG Securities, and RBC Capital Markets.

  Item 1.01 view on EDGAR →
• medium

  This marks the 34th supplemental indenture under PG&E Utility's mortgage bond program, indicating an established pattern of secured debt financing for infrastructure and operations.

  Item 9.01 verify on EDGAR →