Issuer:
|
Pacific Gas and Electric Company | |
Security:
|
8.25% Senior Notes due October 15, 2018 (the 2018 Notes) | |
Size:
|
$200,000,000 | |
The 2018 Notes will be part of the same series of notes as $600,000,000 principal amount of 8.25% Senior Notes due October 15, 2018 offered and sold by the prospectus supplement dated October 16, 2008 and the accompanying prospectus. | ||
Maturity Date:
|
October 15, 2018 | |
Coupon:
|
8.25% | |
Interest Payment Dates:
|
April 15 and October 15, commencing April 15, 2009 | |
Price to Public:
|
104.475% | |
The above issue price does not include accrued interest from October 21, 2008 to the Settlement Date totaling $1,237,500 in the aggregate for the 2018 Notes. | ||
Benchmark Treasury:
|
4.00% due August 15, 2018 | |
Benchmark Treasury Yield:
|
3.648% | |
Spread to Benchmark Treasury:
|
+395 basis points | |
Yield:
|
7.598% | |
Optional Redemption:
|
Make-Whole Call at Treasuries plus 50 basis points | |
Expected Settlement Date:
|
November 18, 2008 | |
CUSIP:
|
694308GN1 | |
Anticipated Ratings:
|
A3 by Moodys Investors Service, Inc. | |
BBB+ by Standard & Poors Ratings Services | ||
Joint Book-Running Managers:
|
J.P. Morgan Securities Inc. | |
Morgan Stanley & Co. Incorporated | ||
Greenwich Capital Markets, Inc. | ||
Co-Managers:
|
Wells Fargo Securities, LLC | |
Loop Capital Markets, LLC | ||
The Williams Capital Group, L.P. |