Davis Polk advised BNP Paribas Securities Corp., Citigroup Global Markets Inc., Goldman, Sachs & Co. and Mitsubishi UFJ Securities (USA), Inc. as the joint book-running managers in connection with a registered offering by Kentucky Utilities Company of $250 million aggregate principal amount of 4.65% first mortgage bonds due 2043. The bonds are secured by a first mortgage lien on substantially all of Kentucky Utilities Company’s real and tangible personal property located in Kentucky and used in the generation, transmission and distribution of electricity. 

Headquartered in Lexington, Kentucky, Kentucky Utilities Company is a regulated public utility engaged in the generation, transmission, distribution and sale of electric energy in Kentucky, Virginia and Tennessee. Kentucky Utilities Company is a wholly owned subsidiary of PPL Corporation. 

The Davis Polk corporate team included partner Michael Kaplan and associates Jonathan C. Pentzien and Michael Crowley. Partner Samuel Dimon and associate Anthony L. Oliva provided tax advice. Counsel Betty Moy Huber and associate Amy E. Turner provided environmental advice. Rosemarie Melendez was the legal assistant on the transaction. All members of the Davis Polk team are based in the New York office.