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PPL Capital Funding plans to sell $500 million 10-year senior notes at 150 bps over Treasuries
By Lisa Kerner
Charlotte, N.C., May 12 – PPL Capital Funding Inc. is eyeing the sale of $500 million of 10-year senior notes, according to an informed source and a 424B5 filed with the Securities and Exchange Commission on Thursday.
Price talk was at Treasuries plus 150 basis points, the source said.
The notes will be guaranteed by PPL Corp.
The joint bookrunners are Barclays, Credit Suisse Securities (USA) LLC, MUFG and Wells Fargo Securities LLC.
Proceeds from the sale will be invested in or loaned to PPL Corp. subsidiaries and will be used to repay short-term debt, including commercial paper borrowings, and for general corporate purposes.
The energy and utility holding company is based in Allentown, Pa.
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