Kentucky Utilities planning first mortgage bonds due 2025, 2045

By Aleesia Forni

Virginia Beach, Sept. 21 – Kentucky Utilities Co. is eyeing a two-part offering of first mortgage bonds in tranches due Oct. 1, 2025 and Oct. 1, 2045, according to a 424B5 filed with the Securities and Exchange Commission.

J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, MUFG and UBS Securities LLC are the joint bookrunners.

Proceeds will be used to repay short-term debt, to repay $250 million of 1.625% mortgage bonds due Nov. 1, 2015 and for other general corporate purposes.

The electric utility is based in Lexington, Ky.

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