ALLENTOWN, Pa., May 11, 2015 /PRNewswire/ -- PPL Energy
Supply, LLC ("PPL Energy Supply") announced Monday (5/11) that it
intends to offer, subject to market and other conditions, up to
$600 million aggregate principal
amount of its senior unsecured notes due 2025 (the "Notes") in a
private offering. PPL Energy Supply intends to use the net proceeds
from the offering to repay short term borrowings under its
revolving credit facilities.
The Notes will be offered only to qualified institutional buyers
as defined under Rule 144A of the Securities Act of 1933, as
amended (the "Securities Act"), and to non-U.S. persons in
transactions outside the United
States under Regulation S of the Securities Act. The Notes
have not been registered under the Securities Act, and, unless so
registered, may not be offered or sold in the United States absent registration or an
applicable exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and other
applicable securities laws.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the
Notes, in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction.
About PPL Energy Supply, LLC
PPL Energy Supply is
primarily engaged in the competitive power generation and marketing
of electricity, generating capacity, ancillary services and related
commodities primarily on a wholesale basis from its fleet of power
plants located in Pennsylvania and
Montana. PPL Energy Supply's
principal subsidiaries are PPL EnergyPlus, LLC and PPL Generation,
LLC. PPL Energy Supply is an indirect wholly owned subsidiary of
PPL Corporation (NYSE: PPL), a Pennsylvania corporation.
Statements contained in this news release, including
statements with respect to future earnings, cash flows, financing,
regulation, operating performance and corporate strategy, are
"forward-looking statements" within the meaning of the federal
securities laws. Although PPL Energy Supply believes that the
expectations and assumptions reflected in these forward-looking
statements are reasonable, these statements are subject to a number
of risks and uncertainties, and actual results may differ
materially from the results discussed in the statements. The
following are among the important factors that could cause actual
results to differ materially from the forward-looking statements:
failure to obtain necessary regulatory approvals or to satisfy any
of the other conditions to the previously announced
transaction to spin off PPL Energy Supply, LLC and combine it with
the power generation businesses of affiliates of Riverstone
Holdings LLC to form Talen Energy Corporation ; actions,
including divestitures, that may be required to obtain necessary
regulatory approvals for the spinoff transaction; adverse effects
on the market price of PPL Energy Supply's securities and its
operating results because of any failure to complete, or a delay in
the completion of, the spinoff and/or financing transaction;
failure to realize the expected benefits of the proposed spinoff
and/or financing transaction; negative effects of the announcement
or consummation of the spinoff and/or financing transaction;
market demand and prices for energy, capacity and fuel; weather
conditions affecting customer energy usage and operating costs;
competition in power markets; the effect of any business or
industry restructuring; the profitability and liquidity of PPL
Energy Supply and its subsidiaries; new accounting requirements or
new interpretations or applications of existing requirements;
operating performance of generating plants and other facilities;
the length of scheduled and unscheduled outages at our generating
plants; environmental conditions and requirements and the related
costs of compliance, including environmental capital expenditures
and emission allowance and other expenses; system conditions and
operating costs; development of new projects, markets and
technologies; performance of new ventures; asset or business
acquisitions and dispositions; any impact of hurricanes or other
severe weather on our business, including any impact on fuel
prices; receipt of necessary government or other regulatory
permits, approvals; capital market conditions and decisions
regarding capital structure; the impact of state, federal or
foreign investigations applicable to PPL Energy Supply and its
subsidiaries; the outcome of litigation against PPL Energy Supply
and its subsidiaries; the market prices of equity securities and
the impact on pension income and resultant cash funding
requirements for defined benefit pension plans; the securities and
credit ratings of PPL Energy Supply and its subsidiaries;
political, regulatory or economic conditions in states, regions or
countries where PPL Energy Supply or its subsidiaries conduct
business, including any potential effects of threatened or actual
terrorism or war or other hostilities; new state, federal or
foreign legislation, including new tax legislation; and the
commitments and liabilities of PPL Energy Supply and its
subsidiaries. Any such forward-looking statements should be
considered in light of such important factors and in conjunction
with PPL Energy Supply's Form 10-K and other reports on file with
the Securities and Exchange Commission.
Note to Editors: Visit our media website at
www.pplnewsroom.com for additional news
and background about PPL Corporation.
Contacts: For news media: George C.
Lewis, 610-774-4687
For
financial analysts: Joseph P.
Bergstein, 610-774-5609
PPL
Corporation
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SOURCE PPL Corporation