Lehigh County IDA, Pa., to sell $223.75 million PPL Electric bonds

By Sheri Kasprzak

New York, Feb. 23 – The Lehigh County Industrial Development Authority of Pennsylvania is set to price $223.75 million of series 2016 pollution control revenue refunding bonds for the PPL Electric Utilities Corp. project, according to a preliminary official statement.

The offering includes $115.5 million of series 2016A non-AMT bonds and $108.25 million of series 2016B non-AMT bonds.

The 2016A bonds are due Sept. 1, 2029, and the 2016B bonds are due Feb. 15, 2027.

The bonds will be sold on a negotiated basis with Morgan Stanley & Co. LLC as the bookrunner for the series 2016A bonds and SunTrust Robinson Humphrey Inc. as the bookrunner for the 2016B bonds. The co-managers are PNC Capital Markets LLC and U.S. Bancorp Investments Inc.

Proceeds will be used to refund the authority’s series 2005A-B pollution control revenue refunding bonds.

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