The company said PPL Capital Funding, Inc., its wholly-owned subsidiary, launched a private placement of $1.0 billion principal amount of Exchangeable Senior Notes due 2030 on November 19, 2025.

1. 01

   The company said PPL Capital Funding, Inc., its wholly-owned subsidiary, launched a private placement of $1.0 billion principal amount of Exchangeable Senior Notes due 2030 on November 19, 2025.

2. 02

   PPL said PPL Capital Funding plans to grant the initial purchasers an option to buy up to an additional $150 million principal amount of the notes within 13 days beginning on the first issue date. The notes will be senior, unsecured obligations and will be unconditionally guaranteed by PPL Corporation.

3. 03

   The company said that upon exchange, PPL Capital Funding will pay cash up to the principal amount being exchanged, and will settle any excess in cash, common stock or a combination, at its election. It also said the notes cannot be redeemed before December 5, 2028, and that cash redemption will be available afterward if conditions are met, including the last reported sale price of the common stock being at least 130% of the exchange price.

4. 04

   The company said PPL Capital Funding intends to use the net proceeds from the offering to repay short-term debt and for general corporate purposes.

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