PPL Electric plans 30-year first mortgage bonds via four bookrunners

By Devika Patel

Knoxville, Tenn., Sept. 3 – PPL Electric Utilities Corp. expects to price first mortgage bonds due Oct. 1, 2049, according to a 424B5 filed with the Securities and Exchange Commission.

The notes feature a make-whole call and then are callable at par.

Goldman Sachs & Co. LLC, Wells Fargo Securities LLC, CIBC World Markets Corp. and U.S. Bancorp Investments Inc. 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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