Deals
PG&E to Float $31 Billion Bankruptcy Restructuring Plan
- Plan would establish $14 billion fund for past wildfire claims
- Also contemplates $20 billion fund for future fire claims
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PG&E Corp. has been shopping a new plan that would see the bankrupt California utility emerge from bankruptcy in March with a $14 billion fund established to address past wildfire claims and another $20 billion statewide fund for future fires.
The proposal, the first one that PG&E has made, is expected to be filed in August, according to a document reviewed by Bloomberg. It also contemplates refinancing about $11 billion in debt and accrued interest.