PPL Capital Funding, Inc., a subsidiary of PPL Corporation, plans to offer $1 billion in Exchangeable Senior Notes due 2030.
The notes will be senior, unsecured obligations of PPL Capital Funding guaranteed by PPL Corporation.
Proceeds from the offering will be used to repay short-term debt and for general corporate purposes.
Offer Details
The private placement offering amounts to $1 billion with an option for an additional $150 million.
Maturity Date
The notes will mature on December 1, 2030, with exchange options prior to and after September 1, 2030.
Redemption Terms
Redemption can occur after December 5, 2028, if certain conditions are met based on the common stock price.
Use of Proceeds
Net proceeds will be used for debt repayment and general corporate purposes.
- The offering provides PPL Capital Funding with a significant capital infusion for its operations and debt management.
- Investors have the opportunity to participate in a private placement with attractive terms and potential for exchange or redemption.
The announcement of the private placement signifies PPL Corporation's strategic financing approach and commitment to strengthening its financial position.