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PPL enters $1B equity distribution agreement

PPL Corp. entered a distribution agreement for the potential sale of up to $1.0 billion worth of its common stock from time to time, according to a Feb. 23 company filing.

J.P. Morgan Securities LLC, Barclays Capital Inc. and Citigroup Global Markets Inc. will act as sales agents, while JPMorgan Chase Bank NA, London Branch, Barclays Bank PLC and Citibank NA will serve as forward purchasers.

The Allentown, Pa.-based utility holding company said actual sales will depend on a variety of factors, including market conditions, the trading price of its common stock, capital needs and determinations by the company of the appropriate sources of funding.