Power company PPL Corp said it would issue shares and equity units to repay the loan it took to fund its recent $5.6 billion acquisition of German utility E.ON AG's (EONGn.DE) UK power networks. The Allentown, Pennslyvania-based company said it would issue $80 million shares of it its common stock and $750 million of equity units. The proceeds will be used to repay a part of the 3.6 billion pounds ($5.81 billion) bridge term loan it took to fund the deal, which created one of the largest electricity distributors in Britain.[ID:nN01119969] BofA Merrill Lynch and Credit Suisse, the underwriters of the deal, will have an option to buy an additional 12 million of PPL shares and $112.5 million of equity units, the company said in a statement.
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