NYSE: PCG PG&E Corp 8-K

PG&E utility completes $1.7B debt offering: $700M 2032 bonds at 5.25%, $1B 2036 bonds at 5.85%

Filed August 4, 2026 · Period ending July 27, 2026 · ~1 min read

Key Changes

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Pacific Gas and Electric Company closed $1.7B first mortgage bond sale: $700M 6-year tranche at 5.25%, $1B 10-year tranche at 5.85%. Proceeds likely fund capital programs and infrastructure investment.

Item 8.01 verify on EDGAR →

Summary

PG&E's utility subsidiary completed a $1.7 billion debt offering on August 4, 2026, issuing $700 million of 5.25% bonds due 2032 and $1 billion of 5.85% bonds due 2036. Both tranches are first mortgage bonds, a secured structure typical for regulated utilities. The pricing reflects current market conditions for investment-grade utility debt with maturities spanning 6 and 10 years.

For shareholders, this is a routine capital markets transaction. The proceeds will support the utility's ongoing capital expenditure programs, which include grid modernization, wildfire mitigation infrastructure, and system reliability improvements mandated by California regulators. The offering adds modest leverage but maintains the company's access to debt markets at rates consistent with its credit profile. No immediate operational or strategic implications beyond normal course financing.