PG&E Announces Expiration and Final Results of Tender Offer


SAN FRANCISCO, Calif.- Pacific Gas and Electric Company (PG&E) announced today the expiration of its previously announced tender offer for up to $500 million in aggregate principal amount of its outstanding 4.80% Senior Notes due 2014 (the "Notes"). The tender offer was subject to the terms and conditions set forth in the Offer to Purchase dated May 28, 2013, the Letter of Transmittal, and related tender offer materials.

The tender offer expired at 11:59 p.m., New York City time, on June 26, 2013 (the "Expiration Date").

As previously announced, as of 5:00 p.m., New York City time, on June 12, 2013 (the "Early Tender Date"), approximately $461.4 million in aggregate principal amount of the outstanding Notes had been validly tendered and not withdrawn. Payment for these Notes was made on June 14, 2013.

Subsequent to the Early Tender Date, an additional $2,000.00 in aggregate principal amount of the Notes were tendered in the tender offer prior to the Expiration Date, and were accepted for purchase by PG&E on June 27, 2013.

Merrill Lynch, Pierce, Fenner & Smith Incorporated and Citigroup Global Markets Inc. acted as dealer managers for the tender offer. The information agent and tender agent was D.F. King and Co., Inc. The tender offer was made only by the Offer to Purchase and the related Letter of Transmittal, and the information in this press release is qualified by reference to such documents.

This press release is for informational purposes only and does not constitute an offer to sell or purchase, or the solicitation of an offer to sell or purchase, or the solicitation of tenders with respect to the Notes.

The tender offer was not made to holders in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the tender offer was required to be made by a licensed broker or dealer, it was deemed to be made by the dealer managers or any other licensed broker or dealer on behalf of PG&E.

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric utilities in the United States. Based in San Francisco, with 20,000 employees, the company delivers some of the nation's cleanest energy to 15 million people in Northern and Central California. For more information, visit and


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