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PG&E Corporation and its utility subsidiary Pacific Gas and Electric Company have announced significant amendments to their respective credit agreements on June 23, 2025.
Key modifications to the Utility Revolving Credit Agreement include:
- Extension of maturity date to June 21, 2030
- Increase in aggregate commitments from $4.4 billion to $5.4 billion
- Modifications to interest rate and commitment fee pricing grids
For the Corporation Revolving Credit Agreement:
- Extension of maturity date to June 22, 2028
- Increase in aggregate commitments from $500 million to $650 million
- Updates to interest rate and commitment fee pricing grids
These amendments enhance PG&E's financial flexibility with Citibank serving as administrative agent for the utility agreement and JPMorgan Chase for the corporation agreement.