PG&E shares surge as company secures $5.5 billion in bankruptcy financing

January 22, 2019 admin Business News Comments Off on PG&E shares surge as company secures $5.5 billion in bankruptcy financing

U.S. power producer PG&E Corp’s shares surged as much as 16 percent on Tuesday after it said it had secured $5.5 billion in debtor-in-possession (DIP) financing from four banks as it prepares to file for Chapter 11 bankruptcy protection.

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Source:: Reuters – Business News