PPL Electric eyeing $300 million 30-year first mortgage bonds

By Aleesia Forni

Virginia Beach, June 2 - PPL Electric Utilities Corp. intends to sell a $300 million offering of first mortgage bonds due 2044, according to a market source and a 424B5 filed with the Securities and Exchange Commission.

Citigroup Global Markets Inc., RBC Capital Markets LLC, RBS Securities Inc. and UBS Securities LLC are the joint bookrunners.

Proceeds will be used to fund capital expenditures, to repay short-term debt and for other general corporate purposes

The electric company is based in Allentown, Pa.

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