By Andrea Heisinger
Omaha, Dec. 19 - PPL Energy Supply, LLC reopened its 6.2% senior notes due May 15, 2016 to add $50 million, according to an FWP filing with the Securities and Exchange Commission.
The notes (Baa2/BBB/BBB+) priced at 98.970 to yield 6.359%, or 223 basis points more than Treasuries.
Interest will be payable semiannually.
There is a make-whole call at Treasuries plus 20 bps.
The reopened amount adds to the $300 million of 6.2% notes from May 18, 2006 and the $150 million of 6.2% notes from July 18, 2006. Total issuance is now $500 million.
J.P. Morgan Securities Inc. was the bookrunner.
The utility provider is based in Allentown, Pa.
| Issuer: | PPL Energy Supply, LLC
|
| Issue: | Senior notes
|
| Amount: | $50 million reopened
|
| Maturity: | May 15, 2016
|
| Bookrunner: | J.P. Morgan Securities Inc.
|
| Coupon: | 6.2%
|
| Price: | 98.970, plus accrued interest from Nov. 15, 2007
|
| Yield: | 6.359%
|
| Spread: | Treasuries plus 223 bps
|
| Call: | Make-whole call at Treasuries plus 20 bps
|
| Trade date: | Dec. 18
|
| Settlement date: | Dec. 20
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
| Fitch: BBB+
|
| Total issuance: | $500 million, including $300 million issued on May 18, 2006 and $150 million of notes issued on July 18, 2006
|
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