Company: PCG-PB
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001004980-25-000132
Chunk: 70

Company: PG&E Corp
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 70
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)$— $(388)$5,012 Utility Receivables Securitization Program (2)June 20271,500 (3)(190)— 1,310 (3)PG&E Corporation revolving credit facilityJune 2028650 — — 650 Total credit facilities$7,550 $(190)$(388)$6,972 (1) Includes a $2.0 billion letter of credit sublimit.(2) For more information on the Receivables Securitization Program, see “Variable Interest Entities” in Note 2 above.(3) The amount the Utility may borrow under the Receivables Securitization Program is limited to the lesser of the facility limit and the facility availability.  Further, the facility availability may vary based on the amount of accounts receivable that the Utility owns that are eligible for sale to the SPV and the portion of those accounts receivable that are sold to the SPV that are eligible for advances by the lenders under the Receivables Securitization Program. UtilityOn April 11, 2025, the Utility amended its existing $525 million term loan agreement to extend the maturity to April 10, 2026. The loan bears interest based on the Utility’s election of either (1) Term Secured Overnight Financing Rate (“SOFR”) (plus a 0.10% credit spread adjustment) plus an applicable margin of 1.375% or (2) the alternative base rate plus an applicable margin of 0.375%.On June 23, 2025, the Utility amended its existing revolving credit agreement to, among other things, (i) extend the maturity date of such agreement to June 21, 2030, (ii) increase the aggregate commitments from $4.4 billion to $5.4 billion and (iii) modify both the interest rate pricing grid and commitment fee pricing grid.On June 26, 2025, the Utility and the SPV amended the existing $1.5 billion Receivables Securitization Program to, among other things (i) extend the scheduled termination date from June 26, 2026 to June 25, 2027 and (ii) allow the Utility and the SPV to request an increase to the commitments by an additional aggregate amount up of to $250 million, subject to the satisfaction of certain terms and conditions.PG&E CorporationOn June 23,