By Aleesia Forni
Virginia Beach, Nov. 6 - Kentucky Utilities Co. sold $250 million of 4.65% 30-year first mortgage bonds at Treasuries plus 90 basis points, according to a syndicate source and an FWP filed with the Securities and Exchange Commission.
The notes sold at 99.28 to yield 4.695%.
BNP Paribas Securities Corp., Citigroup Global Markets Inc., Goldman Sachs & Co. and Mitsubishi UFJ Securities (USA) Inc. were the joint bookrunners.
Proceeds will be used to repay short-term debt, including commercial paper borrowings, for capital expenditures and for other general corporate purposes.
The electric utility is based in Lexington, Ky.
| Issuer: | Kentucky Utilities Co.
|
| Amount: | $250 million
|
| Description: | First mortgage bonds
|
| Maturity: | Nov. 15, 2043
|
| Bookrunners: | BNP Paribas Securities Corp., Citigroup Global Markets Inc., Goldman Sachs & Co., Mitsubishi UFJ Securities (USA) Inc.
|
| Co-managers: | BNY Mellon Capital Markets LLC, CIBC World Markets Corp., Mizuho Securities USA Inc., SMBC Nikko Securities America Inc.
|
| Coupon: | 4.65%
|
| Price: | 99.28
|
| Yield: | 4.695%
|
| Spread: | Treasuries plus 90 bps
|
| Make-whole call: | Treasuries plus 15 bps
|
| Trade date: | Nov. 6
|
| Settlement date: | Nov. 14
|
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