PG&E Prices Its Upsized $1.9B Convertible Senior Secured Notes Due 2027 To Prepay Portion Of Existing Term Loan
Portfolio Pulse from Benzinga Newsdesk
PG&E Corporation has priced an upsized offering of $1.9 billion in convertible senior secured notes due in 2027. The proceeds from the offering will be used to prepay a portion of the company's existing term loan.
November 30, 2023 | 8:23 am
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PG&E Corporation's upsized offering of $1.9 billion in convertible senior secured notes may lead to an improved debt profile by prepaying existing term loans.
The upsizing of PG&E's convertible notes offering indicates a strong demand from investors, which could be viewed positively by the market. The use of proceeds to prepay existing debt could improve the company's debt profile and potentially lead to a more favorable credit position. This may have a positive short-term impact on the stock price as it reflects proactive financial management.
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