PPL Capital Funding, Inc., a subsidiary of PPL Corporation, announced the pricing of $1 billion of 3.000% Exchangeable Senior Notes due 2030 in a private placement.
The notes will bear interest at a rate of 3.000% per year, payable semi-annually, and will be fully guaranteed by PPL Corporation.
The offering is expected to result in approximately $988.8 million in net proceeds to PPL Capital Funding.
Notes Details
3.000% Exchangeable Senior Notes due 2030 with an initial exchange rate of 23.4412 shares of PPL Corporation's common stock per $1,000 principal amount.
Offering Size
$1 billion aggregate principal amount with an option for an additional $150 million notes.
Interest Payments
Interest payable semi-annually in arrears starting from June 1, 2026.
- The offering provides PPL Capital Funding with significant capital for debt repayment and general corporate purposes.
- The notes offering allows for flexibility in managing future financial obligations and investments.
PPL Capital Funding's successful pricing of the Exchangeable Senior Notes demonstrates investor confidence in the company's financial stability and growth prospects.