PPL completes securitization of electricity delivery business with sale of $800 million of bonds

The offering consists of two tranches of senior bonds, with $300 million of six-year bonds due Aug. 1, 2007, and $500 million of eight-year bonds due Aug. 3, 2009. The coupon on the six-year series was set at 5-7/8 percent, and the coupon on the eight-year series was set at 6-1/4 percent.

SAN DIEGO, Aug. 14, 2001 — The California Public Utilities Commission’s (CPUC’s) regulatory schedule for the $271 million Valley-Rainbow Interconnect transmission line, combined with significant customer conservation efforts, support a one-year in-service delay for the project, from 2004 to 2005.

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