News & Events

The Firm represented PPL Corporation (“PPL”) and PPL Capital Funding, Inc. (“PPL Capital Funding”) in the remarketing of $1.15 billion of junior subordinated notes (the “junior notes”) of PPL Capital Funding related to the equity units originally issued by PPL in June 2010.  In connection with the remarketing, PPL Capital Funding issued $250 million 1.90% Senior Notes due 2018, $600 million 3.40% Senior Notes due 2023 and $300 million 4.70% Senior Notes due 2043 (collectively, the “senior notes”), which were sold to the purchasers of the junior notes (the “purchasers”) in exchange for the junior notes.  The senior notes were sold by the purchasers in an SEC-registered secondary offering, managed by Credit Suisse Securities (USA) LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, RBS Securities Inc. and Wells Fargo Securities, LLC. 

PPL, headquartered in Allentown, PA, is an energy and utility holding company. PPL owns or controls nearly 19,000 megawatts of generating capacity in the United States, sells energy in key U.S. markets and delivers electricity and natural gas to approximately 10.5 million customers in the United States and the United Kingdom.

The Simpson Thacher team included Andy Keller, Brian E. Rosenzweig, Grant Manning and Randy Benjenk (Capital Markets) and Marcy Geller and Jonathan Talansky (Tax).