PPL said its subsidiary The Narragansett Electric Company (d/b/a Rhode Island Energy) issued $400 million aggregate principal amount of 6.000% Senior Notes due 2056 on May 18, 2026.

1. 01

   PPL said its subsidiary The Narragansett Electric Company (d/b/a Rhode Island Energy) issued $400 million aggregate principal amount of 6.000% Senior Notes due 2056 on May 18, 2026.

2. 02

   The company said the Notes were issued in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A and to certain non-U.S. persons in transactions outside the United States in reliance on Regulation S, and that they are senior, unsecured obligations not guaranteed by PPL Corporation or any of its other subsidiaries.

3. 03

   PPL said the Notes bear interest at a rate of 6.000% per year, payable semiannually in arrears on May 15 and November 15 of each year, with the first payment on November 15, 2026 and maturity on May 15, 2056.

4. 04

   The company said net proceeds from the sale of the Notes were $396.3 million after deducting discounts and commissions to the Initial Purchasers, and that the Issuer intends to use the net proceeds to repay short-term debt that was incurred primarily for capital expenditures and for general corporate purposes.

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