trending Market Intelligence /marketintelligence/en/news-insights/trending/oMt3JhtZfRIPpFQ8Era5nQ2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

PG&E secures $12B of backstop commitments

Webinar Replay

Deep Dive on Oil & Gas for Financial Institutions

In the Battle for Market Share, Analysts See Downturn Boosting Renewable Energy

Essential Energy Insights - May 14, 2020

Credit Risk: Identifying Early Warning Signals In The Oil And Gas Industry


PG&E secures $12B of backstop commitments

PG&E Corp. and its utility subsidiary Pacific Gas and Electric Co. reached a new agreement with additional backstop parties for the issuance of up to $12 billion in new PG&E common shares to help the companies emerge from bankruptcy by June 30, 2020.

The new backstop parties may terminate the new commitment letters if PG&E Corp. and PG&E enter into any third-party transaction to monetize any net operating losses or tax deductions resulting from the payment of pre-petition, wildfire-related claims and the net cash proceeds are less than $3.0 billion.

The latest commitments are in addition to the $14 billion of backstop commitments previously secured by PG&E Corp.

On Dec. 6, the companies announced that they have reached a $13.5 billion settlement agreement with victims of California wildfires linked to their electric transmission infrastructure.