Hunton Andrews Kurth Advises Underwriters in Connection with PPL Electric Utilities Corporation’s $650 Million First Mortgage Bonds Offering
Hunton Andrews Kurth LLP represented the underwriters in connection with an SEC-registered offering by PPL Electric Utilities Corporation (“PPL EU”) of $650 million aggregate principal amount of its First Mortgage Bonds, Floating Rate Series due 2024. The transaction closed on June 24, 2021.
PPL EU, headquartered in Allentown, Pennsylvania, is a direct wholly owned subsidiary of PPL Corporation and a regulated public utility that is an electricity transmission and distribution service provider in eastern and central Pennsylvania. PPL EU is subject to regulation as a public utility by the Pennsylvania Public Utility Commission, and certain of its transmission activities are subject to the jurisdiction of the Federal Energy Regulatory Commission under the Federal Power Act. PPL EU delivers electricity in its Pennsylvania service area and provides electricity supply to retail customers in that area as a provider of last resort under the Pennsylvania Electricity Generation Customer Choice and Competition Act.
The Hunton Andrews Kurth team included Peter K. O’Brien, Adam R. O’Brian, Patrick Jamieson and S. Ashley Jaber. Robert McNamara and Tim Strother provided tax advice.