PG&E Continues Chapter 11 Progress by Securing More Than Two-Thirds Support for Noteholder Restructuring Support Agreement
January 29 2020 - 6:30AM
Business Wire
PG&E Corporation announced today that it has entered into
joinder agreements with additional holders of Utility senior notes
for the Restructuring Support Agreement with Utility noteholders
that was announced last week (the “Noteholder RSA”). With these
joinders, the Noteholder RSA has the support of more than
two-thirds in principal amount of holders of two key classes of
Utility debt: the Utility's short-term senior notes and the
Utility's longer-term, high coupon senior notes. The company is
pleased to have these additional consenting noteholders join the
Noteholder RSA.
A copy of the Noteholder RSA is posted on PG&E Corporation’s
website under the “Chapter 11” tab at the following link.
About PG&E Corporation
PG&E Corporation (NYSE: PCG) is a holding company
headquartered in San Francisco. It is the parent company of Pacific
Gas and Electric Company (Utility), an energy company that serves
16 million Californians across a 70,000-square-mile service area in
Northern and Central California. Each of PG&E Corporation and
the Utility is a separate entity, with distinct creditors and
claimants, and is subject to separate laws, rules and regulations.
For more information, visit pgecorp.com.
Forward-Looking Statements
This press release contains forward-looking statements that are
not historical facts, including statements about the beliefs,
expectations, estimates, future plans and strategies of PG&E
Corporation and the Utility. These statements are based on current
expectations and assumptions, which management believes are
reasonable, and on information currently available to management,
but are necessarily subject to various risks and uncertainties. In
addition to the risk that these assumptions prove to be inaccurate,
factors that could cause actual results to differ materially from
those contemplated by the forward-looking statements include
factors disclosed in PG&E Corporation and the Utility's joint
Annual Report on Form 10-K for the year ended December 31, 2018,
their joint Quarterly Reports on Form 10-Q for the quarters ended
March 31, 2019, June 30, 2019 and September 30, 2019, and their
subsequent reports filed with the Securities and Exchange
Commission. Additional factors include, but are not limited to,
those associated with the Chapter 11 cases of PG&E Corporation
and the Utility that commenced on January 29, 2019. PG&E
Corporation and the Utility undertake no obligation to publicly
update or revise any forward-looking statements, whether due to new
information, future events or otherwise, except to the extent
required by law.
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