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PPL completes Ironwood debt tender
04 March 2013
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[ppl]
[pennsylvania]
[tender]
[aes]
[williams]
PPL Energy Supply has completed a tender offer for the debt of its Ironwood power project, leaving $51 million of the bonds outstanding. PPL, a Pennsylvania-based utility, offered to swap the 8.857% senior secured bonds due 2025 for new 4.6% bonds due 2021 of PPL Energy supply, its unregulated utility. PPL was offering $1,270 face value of new bonds per $1,000 of old bonds, and received tenders for $167 million, or 76.39%,...
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