logo
Plus   Neg
Share
Email

PPL Corp. Announces 9.9 Mln Common Stock Offering - Quick Facts

PPL Corp. (PPL) said Monday that it plans to make a registered underwritten public offering of 9.9 million shares of its common stock.

The company said that in conjunction with this offering, the underwriters will be granted an option to purchase up to an additional 1.485 million shares of the its common stock to cover over-allotments, if any.

Subject to certain conditions, all shares will be offered in connection with the execution by the company of the forward sale agreements described below. The company expects the offering close on or about April 13, 2012.

The company said that it plans to use any net proceeds that it receives to make capital contributions to its subsidiaries, to repay short-term debt obligations and for other general corporate purposes.

Morgan Stanley and BofA Merrill Lynch are acting as joint book-running managers for the offering.

In connection with the offering, the company said that it has entered into a forward sale agreement with each of Morgan Stanley & Co. LLC and Merrill Lynch International.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Member of Congress have reportedly been told President Donald Trump's administration has reached an agreement to put Chinese telecom giant ZTE Corp. back in business. Reports from the New York Times and Reuters said the deal brokered by the Commerce Department would require ZTE to pay a substantial... Delta Air Lines will resume non-stop flights between the U.S. and India next year, almost a decade after it exited the Indian market. The airline said Thursday that its decision to resume non-stop flights from the U.S. to India follows agreements between the U.S. and the governments of the United Arab Emirates and Qatar to address the issue of government subsidies provided to state-owned carriers. Mortgage rates continued their upward trend this week and hit a seven-year high, even as housing demand remained robust. According to data released Thursday by mortgage finance provider Freddie Mac, the 30-year fixed-rate mortgage rose to 4.66 percent in the week ending May 24, from 4.61 percent in the prior week and 3.95 percent a year ago. This is also the highest level since May 5, 2011.
Follow RTT