PPL Capital greenshoe lifts 5.9% $25-par notes to $450 million

By Marisa Wong

Madison, Wis., March 15 - The underwriters of PPL Capital Funding Inc.'s offering of 5.9% $25-par 2013 series B junior subordinated notes due April 30, 2073 exercised their $50 million over-allotment option on Thursday, according to an 8-K filing with the Securities and Exchange Commission.

This brings the total deal size to $450 million. PPL Capital priced $400 million of the 5.9% $25-par notes on Tuesday.

The notes will be fully and unconditionally guaranteed by PPL Corp.

BofA Merrill Lynch, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, UBS Securities LLC and Wells Fargo Securities LLC are the joint bookrunners.

Proceeds will be used to fund capital expenditures and for general corporate purposes.

PPL is an Allentown, Pa.-based energy company.

© 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.