PPL Corporation, an energy and utility holding company based in Allentown, Pennsylvania, updated its “at the market” offering program with J.P. Morgan Securities LLC, Barclays Capital Inc. and Citigroup Global Markets Inc., pursuant to which PPL may sell common stock having an aggregate offering price of up to $1,000,000,000, from time to time. As part of the updated program, PPL entered into a forward master confirmation with each of JPMorgan Chase Bank, National Association, London Branch, Barclays Bank PLC and Citibank N.A.
S&C continues to act as counsel for the sales agents and acts as counsel for the forward purchasers.
The S&C team was led by Robert Downes and Megan Colville. Jeffrey Hochberg, Eric Wang and Saul Brander advised on tax matters; Dennis Sullivan and Laura Duncan advised on equity derivatives matters related to the forward component; Kirsten Rodger advised on E.U. matters and Tracey Russell advised on FINRA matters.