NEW YORK (Reuters) - PG&E Corp (PCG.N) bonds and shares plummeted after the California power company failed to make a $21.6 million interest payment due Tuesday on its 2040 senior notes, as it planned to seek Chapter 11 bankruptcy protection.
In a form filed with the U.S. Securities and Exchange Commission on Monday, PG&E announced its intention to not make the payment.
PG&E has a 30-day grace period to make the interest payment before triggering an event of default.”
Submitted January 16, 2019 at 11:00AM by COMPUTER1313 http://bit.ly/2Md0Oz9
