Creditors of PG&E, including Elliott Management and Pacific Investment Management Co. (Pimco), are proposing a $35 billion plan for the California power utility to emerge from bankruptcy within a year, Bloomberg reported late on Wednesday.
Pimco, Elliott and David Kempner Capital Management have discussed the proposal with California lawmakers and other stakeholders, Bloomberg reported, citing sources familiar with the matter.
The plan would form a $14 billion cash trust to pay for the claims linked to the wildfires in 2017 and 2018, it said, citing the proposal seen by the news outlet.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US-China trade talks is a bigger risk to Asia markets than the Fed: Credit SuisseNegotiators from the U.S. and China are scheduled to meet in Beijing for their next round of talks starting Thursday. After that, both sides are expected to hold meetings in Washington starting April 3.
Read more »
Credit Suisse's chief economist says he's worried about US inflation shooting upThere were signs that inflation in the U.S. was picking up in certain segments within the services industry even before the Federal Reserve decided to stop raising interest rates, says James Sweeney, the chief economist of Credit Suisse.
Read more »
Equifax and FICO give hackers a bigger targetThe U.S. credit-scoring firms are teaming up to offer banks new ways to judge borrowers’ soundness. Fresh metrics could help some get credit more easily. But a wider trove of data collected without its subjects’ consent, and Equifax’s record of breaches, suggest plenty of risk.
Read more »
PG&E creditors propose $35 billion exit plan: BloombergSome creditors of PG&E Corp, including Elliott Management Corp and Pacific Inves...
Read more »
U.S. judge approves bankruptcy loan for California power producer PG&EBankrupt California power provider PG&E Corp won court approval on Wednesday for...
Read more »
US reportedly pushes Chinese owner of Grindr to divest the dating appChinese gaming company Beijing Kunlun Tech is seeking to sell Grindr after a U.S. government panel raised concerns about its ownership.
Read more »
Renault reportedly plans to restart Nissan merger talks in bid to buyout Fiat-ChryslerOne of the world's largest car-making pacts could become even larger. Renault is reportedly planning to merge with Nissan, then buy Fiat-Chrysler.
Read more »
Saudi Aramco reportedly plans to issue $10 billion bond, opening books for the first timeSaudi Arabia's state-controlled energy giant Aramco plans to issue a $10 billion bond as early as next week, the Wall Street Journal reported Thursday, citing unnamed sources familiar with the matter.
Read more »
US Attorney General Barr is reportedly reviewing special counsel Robert Mueller's Russia reportBarr holds the authority to determine which parts of the document will be shared with lawmakers and the public.
Read more »