Kentucky Utilities plans to issue first mortgage bonds

By Marisa Wong

Los Angeles, March 9 – Kentucky Utilities Co. is offering first mortgage bonds, according to a 424B5 filing with the Securities and Exchange Commission.

The bonds will have a make-whole call option, followed by a par call option.

Goldman Sachs & Co. LLC, MUFG Securities Americas Inc., Truist Securities, Inc. and Wells Fargo Securities, LLC are the joint bookrunners.

Bank of New York Mellon is the trustee.

Bracewell LLP and in-house counsel will act as counsel for the issuer. Hunton Andrews Kurth LLP will be counsel for the underwriters. The company’s in-house counsel will handle matters pertaining to the organization of the company and its title to its property and the liens of the mortgage on its properties, as well as matters involving Kentucky and Virginia law.

Proceeds will be used for general corporate purposes, including the repayment of debt.

The issuer is an electric utility based in Lexington, Ky.

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