Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers P > Headlines for PPL Capital Funding, Inc. > News item |
Fannie brings $2 billion of five-year benchmark notes; PPL sells $650 million notes
By Sheri Kasprzak
New York, May 12 – New-issue action in the high-grade bond market was light on Thursday.
The slow down came after the first three days of the week saw around $30 billion price, the busiest pace of activity since early April.
Fannie Mae headlined the day’s new supply as it priced $2 billion of 1.25% five-year benchmark notes at Treasuries plus 13 basis points.
The notes were priced at 99.478 to yield 1.359%.
J.P. Morgan Securities LLC, Deutsche Bank Securities Inc. and TD Securities (USA) LLC were the joint lead managers for the notes.
Fannie Mae said it intends to apply to list the securities on the EuroMTF market of the Luxembourg Stock Exchange.
Fannie Mae, based in Washington, D.C., is a mortgage credit provider.
PPL upsizes
Meanwhile PPL Capital Funding Inc. priced an upsized $650 million of 10-year senior notes, according to an informed source and filings with the Securities and Exchange Commission.
The notes came in line with talk for a spread of Treasuries plus 150 bps. The size was increased from an announced $500 million.
The notes are guaranteed by PPL Corp.
The joint bookrunners are Barclays, Credit Suisse Securities (USA) LLC, MUFG and Wells Fargo Securities LLC.
The company intends to use the proceeds for an investment in or a loan to PPL Corp. subsidiaries, which will be used to repay short-term debt, including commercial paper borrowings, as well as for general corporate purposes.
Based in Allentown, Pa., PPL is an energy and utility holding company.
Also in primary news, Intel Corp. announced a two-tranche offering on Thursday morning but terms were not available at press time.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.