Convertibles Calendar: PPL to price $1 billion mandatory deal

JUNE 23

PPL CORP. (NYSE: PPL): $1billion offering of three-year convertible mandatory junior subordinated notes; after the market close Wednesday; $150 million greenshoe; Rule 144A; talked 9.25%-9.75%, up 17.5%-22.5%; concurrent offering of 90 million shares of common stock; proceeds to fund a portion of its acquisition of E.ON U.S. LLC; joint bookrunners Credit Suisse, Barclays Capital, JPMorgan, Bank of America Merrill Lynch, and UBS; Allentown, Pa.-based electric utility.

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