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PPL Subsidiary Prices $1 Billion of Senior Notes in Private Placement

BY MT Newswires | CORPORATE | 11/20/25 05:50 AM EST

05:50 AM EST, 11/20/2025 (MT Newswires) -- PPL (PPL) subsidiary PPL Capital Funding said Wednesday that it priced $1 billion of its 3% exchangeable senior unsecured notes due 2030 in a private placement.

The company also granted the initial purchasers a 13-day option to buy up to an additional $150 million of notes. Sale of the notes is expected to settle on Monday.

The notes will be exchangeable at an initial rate of 23.4412 common shares per $1,000 of notes, equivalent to an initial exchange price of about $42.66 per share.

The company said it plans to use the net proceeds to repay short-term debt and for general corporate purposes.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

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