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PPL Electric Utilities outlines offering of first mortgage bonds
Chicago, Jan. 2 – PPL Electric Utilities Corp. is offering fixed-rate first mortgage bonds, according to a 424B5 filing with the Securities and Exchange Commission on Tuesday morning.
Call protection will first be in the form of a make-whole premium with a par call option a number of months before the maturity date.
BMO Capital Markets Corp., BofA Securities, Inc., CIBC World Markets Corp. and Wells Fargo Securities, LLC are listed as bookrunners.
Bank of New York Mellon will be the trustee.
PPL is using Bracewell LLP, Davis Polk & Wardwell LLP and in-house counsel for matters regarding the validity of the securities. Hunton Andrews Kurth LLP is listed as counsel for the underwriters.
Proceeds will be used to repay debt and for general corporate purposes.
The utility holding company is based in Allentown, Pa.
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