3 1 d387619_form-3.txt ------------------------- OMB APPROVAL ------------------------- OMB Number: 3235-0104 Expires: January 31, 2005 Estimated average burden hours per response 0.5 ------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 3 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 ________________________________________________________________________________ 1. Name and Address of Reporting Person* King Street Capital Management, L.L.C. -------------------------------------------------------------------------------- (Last) (First) (Middle) 909 Third Avenue, 30th Floor -------------------------------------------------------------------------------- (Street) New York N.Y. 10022 -------------------------------------------------------------------------------- (City) (State) (Zip) ________________________________________________________________________________ 2. Date of Event Requiring Statement (Month/Day/Year) February 20, 2003 ________________________________________________________________________________ 3. I.R.S. Identification Number of Reporting Person, if an Entity (Voluntary) ________________________________________________________________________________ 4. Issuer Name and Ticker or Trading Symbol Pacific Gas & Electric & Co. (PCG) ________________________________________________________________________________ 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) [_] Director [X] 10% Owner [_] Officer (give title below) [_] Other (specify below) ________________________________________________________________________________ 6. If Amendment, Date of Original (Month/Day/Year) ________________________________________________________________________________ 7. Individual or Joint/Group Filing (Check applicable line) [_] Form filed by One Reporting Person [X] Form filed by More than One Reporting Person ================================================================================ Table I -- Non-Derivative Securities Beneficially Owned =============================================================================
3. Ownership Form: 2. Amount of Securities Direct (D) or 1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership (Instr. 4) (Instr. 4) (Instr. 5) (Instr. 5) --------------------------------------------------------------------------------------------------------------------------------- Series A 6.0% Preferred Stock 123,985 (1)(2) I By King Street Capital, L.P. ------------------------------------------------------------------------------------------------------------------------------------ Series A 6.0% Preferred Stock 282,015 (1)(3) I By King Street Capital, Ltd. ------------------------------------------------------------------------------------------------------------------------------------ Series B 5.5% Preferred Stock 60,410 (1)(2) I By King Street Capital, L.P. ------------------------------------------------------------------------------------------------------------------------------------ Series B 5.5% Preferred Stock 112,490 (1)(3) I By King Street Capital, Ltd. ------------------------------------------------------------------------------------------------------------------------------------ Series D 5.0% Preferred Stock 25,670 (1)(2) I By King Street Capital, L.P. ------------------------------------------------------------------------------------------------------------------------------------ Series D 5.0% Preferred Stock 57,330 (1)(3) I By King Street Capital, Ltd. ------------------------------------------------------------------------------------------------------------------------------------ Series E 5.0% Preferred Stock 64,890 (1)(2) I By King Street Capital, L.P. ------------------------------------------------------------------------------------------------------------------------------------ Series E 5.0% Preferred Stock 120,610 (1)(3) I By King Street Capital, Ltd. ------------------------------------------------------------------------------------------------------------------------------------ Series G 4.8% Preferred Stock 26,880 (1)(2) I By King Street Capital, L.P. ------------------------------------------------------------------------------------------------------------------------------------ Series G 4.8% Preferred Stock 49,920 (1)(3) I By King Street Capital, Ltd. ------------------------------------------------------------------------------------------------------------------------------------ Series I 4.36% Preferred Stock 32,200 (1)(2) I By King Street Capital, L.P. ------------------------------------------------------------------------------------------------------------------------------------ Series I 4.36% Preferred Stock 59,800 (1)(3) I By King Street Capital, Ltd. ------------------------------------------------------------------------------------------------------------------------------------ Series U 7.04% Preferred Stock 56,910 (1)(2) I By King Street Capital, L.P. ------------------------------------------------------------------------------------------------------------------------------------ Series U 7.04% Preferred Stock 106,490 (1)(3) I By King Street Capital, Ltd. ------------------------------------------------------------------------------------------------------------------------------------ Series Y 6.57% Preferred Stock 125,055 (1)(2) I By King Street Capital, L.P. ------------------------------------------------------------------------------------------------------------------------------------ Series Y 6.57% Preferred Stock 232,245 (1)(3) I By King Street Capital, Ltd. ------------------------------------------------------------------------------------------------------------------------------------ Series Z 6.3% Preferred Stock 77,280 (1)(2) I By King Street Capital, L.P. ------------------------------------------------------------------------------------------------------------------------------------ Series Z 6.3% Preferred Stock 143,520 (1)(3) I By King Street Capital, Ltd. ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ====================================================================================================================================
FORM 3 (continued) Table II -- Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ================================================================================
5. Owner- 3. Title and Amount of Securities ship Underlying Derivative Security Form of 2. Date Exercisable (Instr. 4) Derivative and Expiration Date --------------------------------- 4. Conver- Security: (Month/Day/Year) Amount sion or Direct 6. Nature of ---------------------- or Exercise (D) or Indirect Date Expira- Number Price of Indirect Beneficial 1. Title of Derivative Exer- tion of Derivative (I) Ownership Security (Instr. 4) cisable Date Title Shares Security (Instr. 5) (Instr. 5) ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ====================================================================================================================================
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Explanation of Responses: (1) Each of the reporting person and the joint filers disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein, and this report shall not be deemed an admission that the reporting person or any joint filer is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended or for any other purpose. (2) These securities are owned by King Street Capital, L.P. King Street Capital Management, L.L.C. has been delegated investment advisory responsibilities by King Street Advisors, L.L.C., the general partner of King Street Capital, L.P. O. Francis Biondi, Jr. and Brian Higgins are the managing members of King Street Capital Management, L.L.C. (3) These securities are owned by King Street Capital, Ltd. King Street Capital Management, L.L.C. is the investment adviser to King Street Capital, Ltd. O. Francis Biondi, Jr. and Brian Higgins are the managing members of the investment adviser. King Street Capital Management, L.L.C. Reporting Person By: O. Francis Biondi, Jr. Managing Member /s/ O. Francis Biondi, Jr. February 27, 2003 --------------------------------------------- ----------------------- **Signature of Reporting Person Date * If the Form is filed by more than one Reporting Person, see Instruction 5(b)(v). ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Note: File three copies of this form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure. 03853.0002 #387619 Joint Filing Information ------------------------ Name: Brian J. Higgins Address: 909 Third Avenue 30th Floor New York, New York 10022 Designated Filer: King Street Capital Management, L.L.C. Issuer & Ticker Symbol: Pacific Gas & Electric Company (PCG) Date of Event Requiring Filing: February 20, 2003 Signature: /s/ Brian J. Higgins ----------------------------- Brian J. Higgins Joint Filing Information ------------------------ Name: O. Francis Biondi, Jr. Address: 909 Third Avenue 30th Floor New York, New York 10022 Designated Filer: King Street Capital Management, L.L.C. Issuer & Ticker Symbol: Pacific Gas & Electric Company (PCG) Date of Event Requiring Filing: February 20, 2003 Signature: /s/ O. Francis Biondi, Jr. ------------------------------- O. Francis Biondi, Jr. 03853.0002 #387619