Issuer: |
PPL Electric Utilities Corporation | |
Title: |
7.125% Senior Secured Bonds due 2013 | |
Expected Credit Ratings* (Moodys/S&P/Fitch): |
A3/A-/A- | |
Issuance Format: |
SEC Registered | |
Principal Amount: |
$25,000,000 | |
Trade Date: |
October 15, 2008 | |
Settlement Date: |
October 17, 2008 (T + 2) | |
Maturity Date: |
November 30, 2013 | |
Benchmark Treasury: |
3.125% due September 30, 2013 | |
Benchmark Treasury Yield: |
2.975% | |
Spread to Benchmark Treasury: |
412.5 basis points | |
Re-offer Yield: |
7.100% | |
Annual Interest Rate: |
7.125% | |
Interest Payment Dates: |
Semi-annually on each May 30 and November 30, commencing on May 30, 2009 | |
Price to Investors: |
100.088% plus accrued interest, if any, from Settlement Date | |
Optional Redemption: |
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 50 basis points. | |
CUSIP Number: |
69351 UAL 7 | |
Joint Bookrunners: |
Barclays Capital Inc. | |
BNP Paribas Securities Corp. | ||
Lazard Capital Markets LLC | ||
Scotia Capital (USA) Inc. | ||
Co-Managers |
BNY Mellon Capital Markets, LLC | |
PNC Capital Markets LLC | ||
U.S. Bancorp Investments, Inc. |