PGF may redeem the Notes, in whole or in part, at any time or from time to time prior to October 3, 2030 (the date that is three months prior the scheduled maturity of the 2031 Notes) and December 3, 2049 (the date that is six months prior the scheduled maturity of the 2050 Notes), as applicable, by paying the greater of the principal amount of the Notes to be redeemed and the applicable “make-whole” amount, plus, in each case, accrued and unpaid interest, as described under “Description of the Notes—Optional Redemption— Optional Redemption With ‘Make-Whole’ Amount for the Notes.”

Beginning on October 3, 2030 with respect to the 2031 Notes and December 3, 2049 with respect to the 2050 Notes, as applicable, PGF may redeem, in whole or in part, the Notes at a price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, as described under “Description of the Notes—Optional Redemption —Optional Redemption at Par.”

The terms of the indenture will require PGF, among other things, to: 

• pay all amounts owed by it under the indenture and the Notes when such amounts are due;
• maintain an office or agent for the purpose of service of process and a paying agent, in each case in the United States;
• ensure that the Notes continue to be senior obligations of PGF;
• use proceeds from the issuance of the Notes for specified purposes; and
• replace the trustee upon any resignation or removal of the trustee.

In addition, the terms of the indenture will restrict the ability of PGF and its subsidiaries, among other things, to:

• undertake certain mergers, consolidations or similar transactions; and
• create certain liens on its assets or pledge its assets. 

PGF’s covenants are subject to a number of important qualifications and exceptions. See “Description of the Notes—Covenants.”