The company said PPL Capital Funding, Inc., its wholly-owned subsidiary, priced a private placement of $1.0 billion of 3.000% Exchangeable Senior Notes due 2030 on November 19, 2025. PPL Corporation fully and unconditionally guarantees the notes.

1. 01

   The company said PPL Capital Funding, Inc., its wholly-owned subsidiary, priced a private placement of $1.0 billion of 3.000% Exchangeable Senior Notes due 2030 on November 19, 2025. PPL Corporation fully and unconditionally guarantees the notes.

2. 02

   PPL said the sale of the notes to the initial purchasers is expected to settle on November 24, 2025, with net proceeds after the initial purchasers' discount of about $988.8 million. The figure is before deducting offering expenses and assumes no exercise of the option to purchase additional notes, which is up to $150 million.

3. 03

   The company said the notes will pay interest of 3.000% per year on June 1 and December 1 and will mature on December 1, 2030. It said the initial exchange price is about $42.66 per share, a premium of about 20% to the NYSE last sale price of $35.55 on November 19, 2025.

4. 04

   PPL said PPL Capital Funding plans to use the net proceeds from the offering to repay short-term debt and for general corporate purposes. The company also said the notes may not be redeemed before December 5, 2028.

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