PPL Capital pricing $400 million guaranteed 10-year notes Wednesday

By Andrea Heisinger

New York, Oct. 10 - PPL Capital Funding, Inc. is in the market with a $400 million offering of 10-year senior notes to be priced later Wednesday, a market source said.

The notes (Baa3/BBB-/) are guaranteed by PPL Corp.

Bookrunners are Mitsubishi UFJ Securities (USA) Inc., Morgan Stanley & Co. LLC, RBC Capital Markets LLC and Wells Fargo Securities LLC.

Proceeds will be invested in or loaned to PPL Corp. subsidiaries and will be used by them to repay short-term obligations, including commercial paper borrowings, and for general corporate purposes.

PPL was last in the market with a $400 million issue of 4.2% 10-year notes on June 11 priced at 265 basis points over Treasuries.

The energy and utility holding company is based in Allentown, Pa.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.