PPL plans $250 million of three-year floaters via three bookrunners

By Devika Patel

Knoxville, Tenn., Sept. 28 – PPL Electric Utilities Corp. expects to price $250 million of floating-rate first mortgage bonds due 2023, according to a 424B5 filed with the Securities and Exchange Commission.

Interest will be based on Libor.

The notes are callable at par after September 2021.

BMO Capital Markets Corp., RBC Capital Markets Corp. and Wells Fargo Securities LLC are the bookrunners.

Proceeds will be used to repay short-term debt and for general corporate purposes.

The electric company is based in Allentown, Pa.

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