PPL Corporation (NYSE:PPL) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
Item2.03 Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a Registrant
and
Section 8 – Other Events
Item8.01 Other Events
On May8, 2017, PPL Electric Utilities Corporation (PPL Electric)
entered into an underwriting agreement (the Underwriting
Agreement) with Citigroup Global Markets Inc., Mizuho Securities
USA LLC, RBC Capital Markets, LLC and SunTrust Robinson Humphrey,
Inc., as representatives of the several underwriters (the
Underwriters), relating to the offering and sale by PPL Electric
of $475million of 3.950% First Mortgage Bonds due 2047 (the
Bonds).
The Bonds were issued on May11, 2017, under PPL Electrics
Indenture (the 2001 Indenture), dated as of August1, 2001, to The
Bank of New York Mellon, as trustee, as previously supplemented
and as supplemented by Supplemental Indenture No.19 thereto (the
Supplemental Indenture), dated as of May1, 2017 (collectively,
the Indenture).The Bonds will be secured by the lien of the
Indenture, which creates a lien on substantially all of PPL
Electrics distribution properties and certain of its transmission
properties, subject to certain exceptions and exclusions, as
described therein.
The Bonds are due June1, 2047, subject to early redemption.PPL
Electric will use the net proceeds from the sale of the Bonds to
repay short term indebtedness.
The Bonds were offered and sold under PPL Electrics Registration
Statement on Form S-3 on file with the Securities and Exchange
Commission (Registration No.333-202290-01).
A copy of the Underwriting Agreement is attached as Exhibit 1(a)
to this report and incorporated herein by reference.The
Supplemental Indenture and Officers Certificate are filed with
this report as Exhibits 4(a) and 4(b), respectively.
Section9 Financial Statements and Exhibits
Item9.01 Financial Statements and Exhibits
(d) Exhibits
|
Exhibit No. |
Description |
|
| 1(a) | Underwriting Agreement, dated May8, 2017. | |
| 4(a) |
Supplemental Indenture No.19, dated as of May1, 2017, of PPL Electric Utilities Corporation to The Bank of New York Mellon, as Trustee. |
|
| 4(b) |
Officers Certificate, dated May11, 2017, to Section201 and Section301 of the Indenture. |
|
| 5(a) |
Opinion of Frederick C. Paine, Senior Counsel of PPL Services Corporation. |
|
| 5(b) | Opinion of Pillsbury Winthrop Shaw Pittman LLP. | |
| 23(a) |
Consent of Frederick C. Paine, Senior Counsel of PPL Services Corporation (included as part of Exhibit 5(a)). |
|
| 23(b) |
Consent of Pillsbury Winthrop Shaw Pittman LLP (included as part of Exhibit 5(b)). |
About PPL Corporation (NYSE:PPL)
PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. It operates through three segments: U.K. Regulated Segment, Kentucky Regulated Segment and Pennsylvania Regulated Segment. The U.K. Regulated Segment comprises PPL Global, which includes PPL WPD Limited and its subsidiaries’ regulated electricity distribution operations, among others. The Kentucky Regulated segment consists of the operations of LG&E and KU Energy LLC, a subsidiary of PPL, which owns and operates regulated public utilities engaged in the generation, transmission, distribution and sale of electricity and distribution and sale of natural gas. The Pennsylvania Regulated segment consists of the operations of PPL Electric Utilities Corporation, which distributes and transmits electricity. PPL Corporation (NYSE:PPL) Recent Trading Information
PPL Corporation (NYSE:PPL) closed its last trading session down -0.06 at 38.47 with 3,706,072 shares trading hands.
