Prepping for Bankruptcy, PG&E Secures $5.5 Billion in “Debtor-in-Possession” Financing. What is “DIP” Financing?
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Here’s how a soon-to-be bankrupt company that’ll default on all its debts can still borrow $5.5 billion. PG&E, the largest gas and electric utility in California, announced on January 14 that the holding company, PG&E Corporation, …