Edison cuts fire risk with US$3.1bn dual-tranche financing

摘要

California-based power utility edison international has raised funds for its initial contribution to the state's newly legislated US$21bn wildfire insurance fund. Edison has raised at least US$3.1bn in equity and debt, to cover subsidiary southern California edison's US$2.4bn contribution to the wildfire fund. The fund aims to help the state's utilities, including the bankrupt Pacific Gas & Electric, by capping the future damages bill from wildfires that may have been caused by their power infrastructure.