Some creditors of PG&E Corp, including Elliott Management Corp and Pacific Inves...
PG&E works on power lines to repair damage caused by the Camp Fire in Paradise, California, U.S. November 21, 2018. REUTERS/Elijah Nouvelage
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 proposal is being pitched on behalf of an ad hoc committee of PG&E’s senior unsecured noteholders and will create a statewide wildfire fund of at least $13 billion. The fund will be financed by statewide bonds, PG&E, other California utilities and state funding sources, according to the report.
PG&E, Pimco, Elliott and David Kempner did not respond to requests for comment outside regular U.S. business hours.
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