By Aleesia Forni
Virginia Beach, Nov. 6 - Louisville Gas and Electric Co. priced a $250 million sale of 4.65% first mortgage bonds due 2043 with a spread of Treasuries plus 90 basis points, according to a syndicate source and an FWP filing with the Securities and Exchange Commission.
Pricing was at 99.28 to yield 4.695%.
Citigroup Global Markets Inc., RBS Securities Inc., SunTrust Robinson Humphrey and U.S. Bancorp Investments Inc. were the joint bookrunners.
Proceeds will be used to repay short-term debt obligations, for capital expenditures and for other general corporate purposes.
The regulated electric and natural gas utility is based in Louisville, Ky.
| Issuer: | Louisville Gas and Electric Co.
|
| Amount: | $250 million
|
| Description: | First mortgage bonds
|
| Maturity: | Nov. 15, 2043
|
| Bookrunners: | Citigroup Global Markets Inc., RBS Securities Inc., SunTrust Robinson Humphrey, U.S. Bancorp Investments Inc.
|
| Co-managers: | Banco Bilbao Vizcaya Argentaria SA, BNY Mellon Capital Markets LLC, Mizuho Securities USA Inc., PNC Capital Markets LLC
|
| Coupon: | 4.65%
|
| Price: | 99.28
|
| Yield: | 4.695%
|
| Spread: | Treasuries plus 90 bps
|
| Trade date: | Nov. 6
|
| Settlement date: | Nov. 14
|
| Make-whole call: | Treasuries plus 15 bps
|
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