The company said its subsidiary PPL Electric Utilities Corporation entered into an underwriting agreement with BMO Capital Markets Corp., BofA Securities, Inc., CIBC World Markets Corp. and Wells Fargo Securities, LLC for the sale of $650,000,000 of 4.85% First Mortgage Bonds due 2034 on January 2, 2024.

1. 01

   The company said its subsidiary PPL Electric Utilities Corporation entered into an underwriting agreement with BMO Capital Markets Corp., BofA Securities, Inc., CIBC World Markets Corp. and Wells Fargo Securities, LLC for the sale of $650,000,000 of 4.85% First Mortgage Bonds due 2034 on January 2, 2024.

2. 02

   The company said the Bonds were issued on January 5, 2024 and are due February 15, 2034, subject to early redemption. It also said the Bonds are secured by the lien of the Indenture, which covers substantially all of PPL Electric's distribution properties and certain of its transmission properties.

3. 03

   The company said PPL Electric will use the net proceeds from the sale of the Bonds to repay short-term debt and for general corporate purposes.

4. 04

   The company said the Bonds were issued under PPL Electric's Indenture dated August 1, 2001 and its Supplemental Indenture No. 25 dated January 1, 2024, with The Bank of New York Mellon as trustee, and were sold under a Form S-3 registration statement (Registration No. 333-253290-03).

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Original filing

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