PG&E Corp. Announces Public Offering of Common Shares

SAN FRANCISCO, March 14, 2012 /PRNewswire/ -- PG&E Corporation (NYSE: PCG) announced today it has agreed to issue 5,900,000 shares of its common stock in an underwritten public offering, valued at approximately $250 million. The offering meets a portion of the company's estimated equity needs during 2012.  PG&E Corporation expects to invest the net proceeds from the sale in its regulated utility subsidiary, Pacific Gas and Electric Company, for general corporate purposes. 

These common shares are being offered by Barclays Capital Inc. and UBS Investment Bank under PG&E Corporation's automatic shelf registration statement filed with the Securities and Exchange Commission on February 23, 2011. The common shares are expected to be issued on March 20, 2012, subject to customary closing conditions.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

The offering of these securities may be made only by means of the prospectus and related prospectus supplement relating to the offering. Investors will be able to obtain a copy of such documents from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or email at [email protected] or by telephone at (888) 603-5847 or from UBS Investment Bank, Attn: Prospectus Department, 299 Park Avenue, New York, NY 10171 or by telephone toll free at 888-827-7275.

PG&E Corporation (NYSE: PCG) is a Fortune 200 energy-based holding company, headquartered in San Francisco. It is the parent company of Pacific Gas and Electric Company, California's largest investor-owned utility. PG&E serves more than 15 million Californians throughout a 70,000 square-mile service area in northern and central California.

This press release contains forward-looking statements of future expectations. Actual results might differ materially from those projected because of factors such as those identified in reports PG&E Corporation has filed with the Securities and Exchange Commission.

SOURCE PG&E Corporation