Issuer:
|
PPL Electric Utilities Corporation | |
Title:
|
3.00% First Mortgage Bonds due 2021 | |
Expected Credit Ratings* (Moody’s/S&P/Fitch):
|
A3/A-/A- | |
Issuance Format:
|
SEC Registered | |
Principal Amount:
|
$400,000,000 | |
Trade Date:
|
August 18, 2011 | |
Settlement Date:
|
August 23, 2011 (T + 3) | |
Maturity Date:
|
September 15, 2021 | |
Benchmark Treasury:
|
2.125% due August 15, 2021 | |
Benchmark Treasury Yield:
|
2.094% | |
Spread to Benchmark Treasury:
|
+100 basis points | |
Re-offer Yield:
|
3.094% | |
Annual Interest Rate:
|
3.00% | |
Interest Payment Dates:
|
Semi-annually on each March 15 and September 15, commencing on March 15, 2012 | |
Price to Investors:
|
99.191% plus accrued interest, if any, from the Settlement Date | |
Optional Redemption:
|
Prior to June 15, 2021, the bonds will be redeemable, in whole at any time or in part from time to time, at a redemption price equal to the greater of 100% of the principal amount of the bonds being redeemed or the sum of the present values of the remaining scheduled payments of principal and interest discounted on a semi-annual basis at the Adjusted Treasury Rate, plus 15 basis points. On or after June 15, 2021, the bonds will be redeemable at a redemption price equal to 100% of the principal amount of the bonds being redeemed. | |
CUSIP/ISIN:
|
69351U AP8 / US69351UAP84 | |
Joint Bookrunners:
|
Barclays Capital Inc. | |
| Citigroup Global Markets Inc. | ||
| J.P. Morgan Securities LLC | ||
| Morgan Stanley & Co. LLC | ||
Co-Managers:
|
Fifth Third Securities, Inc. | |
| KeyBanc Capital Markets Inc. | ||
| RBC Capital Markets, LLC | ||
| SunTrust Robinson Humphrey, Inc. |
| * | A security rating is not a recommendation to buy, sell or hold securities and should be evaluated independently of any other rating. The rating is subject to revision or withdrawal at any time by the assigning rating organization. |