PPL Capital Funding, Inc. announces proposed private placement of $1 billion of Exchangeable Senior Notes

Core Points - PPL Capital Funding, Inc. plans to offer $1 billion of Exchangeable Senior Notes due 2030 in a private placement to qualified institutional buyers [1][7] - The notes will be senior, unsecured obligations guaranteed by PPL Corporation, with interest payable semi-annually [2] - The offering includes an option for initial purchasers to buy an additional $150 million of notes within 13 days of issuance [1] Financial Details - The notes will mature on December 1, 2030, and can be exchanged for cash or shares of PPL Corporation's common stock [3] - PPL Capital Funding may redeem the notes starting December 5, 2028, under specific conditions related to the stock price [4] - Holders can require PPL Capital Funding to repurchase their notes upon a fundamental change at a price equal to 100% of the principal amount plus accrued interest [5] Use of Proceeds - The net proceeds from the offering will be used to repay short-term debt and for general corporate purposes [6] Company Overview - PPL Corporation is a leading U.S. energy company providing electricity and natural gas to over 3.6 million customers [9] - The company focuses on building resilient power grids and advancing sustainable energy solutions [10]