SEC Form 8-K filed by Pacific Gas & Electric Co.

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

 

Date of Report:

(Date of earliest event reported)

 

 

 

 

 

Check the appropriate box below if the Form filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

 

 

 

Securities registered pursuant to Section 12(b) of the Act:

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule of the Securities Exchange Act of 1934 of this chapter).

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

 

 

Item 1.01. Entry into a Material Definitive Agreement

On June 22, 2026, Pacific Gas and Electric Company, the several banks and other financial institutions or entities party thereto from time to time and Citibank, N.A., as administrative agent and designated agent, entered into Amendment No. 6 to Credit Agreement (the “Utility Amendment”) that amended that certain Credit Agreement, dated as of July 1, 2020 (as previously amended and as amended by the Utility Amendment, the “Utility Revolving Credit Agreement”). The Utility Revolving Credit Agreement was amended to, among other things, (i) extend the maturity date of such agreement to June 20, 2031, (ii) increase the aggregate commitments provided by the lenders thereunder from $5,400,000,000 to $6,250,000,000 and (iii) modify both the interest rate pricing grid and commitment fee pricing grid.

The foregoing description of the Utility Amendment and the Utility Revolving Credit Agreement is qualified in its entirety by reference to the full text of the Utility Amendment and the Utility Revolving Credit Agreement, which are attached as Exhibit 10.1 hereto and incorporated by reference herein.

Item 8.01. Other Events

On June 22, 2026, PG&E Corporation, the several banks and other financial institutions or entities party thereto from time to time and JPMorgan Chase Bank, N.A., as administrative agent, entered into Amendment No. 6 to Credit Agreement (the “Corporation Amendment”) that amended that certain Credit Agreement, dated as of July 1, 2020 (as previously amended and as amended by the Corporation Amendment, the “Corporation Revolving Credit Agreement”). The Corporation Revolving Credit Agreement was amended to, among other things, (i) extend the maturity date of such agreement to June 22, 2029, (ii) modify both the interest rate pricing grid and commitment fee pricing grid and (iii) add collateral release terms. Pursuant to the collateral release terms, the lien on the collateral securing the obligations under the Corporation Revolving Credit Agreement will be released if PG&E Corporation receives senior unsecured investment grade credit ratings from at least two rating agencies, no Event of Default exists under the Corporation Revolving Credit Agreement and PG&E Corporation has not more than $250,000,000 of secured indebtedness for borrowed money (other than loans under the Corporation Revolving Credit Agreement) then outstanding. The lien will be reinstated automatically if either PG&E Corporation fails to maintain investment grade credit ratings from at least two agencies or has more than $250,000,000 of secured indebtedness for borrowed money (other than loans under the Corporation Revolving Credit Agreement) outstanding.

The foregoing description of the Corporation Amendment and the Corporation Revolving Credit Agreement is qualified in its entirety by reference to the full text of the Corporation Amendment and the Corporation Revolving Credit Agreement, which are attached as Exhibit 10.2 hereto and incorporated by reference herein.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits.

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized.