PPL Stock Price, News & Analysis

PPL Capital Funding, a subsidiary of PPL Corporation (NYSE: PPL), announced pricing terms for its tender offers to purchase outstanding debt securities. The tender includes any and all of its Senior Notes due in 2022, 2023, and 2024, as well as specific maximum tender offer notes due in 2043, 2044, 2047, 2030, and 2026. The offers were announced on June 29, 2021, with the early tender date being June 28, 2021. Securities accepted will receive a total consideration based on reference yields plus fixed spreads, which includes an early tender premium of $30 per $1,000 principal amount.

PPL Capital Funding, Inc. announced early results of its tender offers for its outstanding Senior Notes, increasing the maximum purchase price from $1 billion to accommodate all validly tendered notes. A total of $2.29 billion in securities was tendered by the June 28, 2021 deadline. Key securities include the 4.200% Senior Notes due 2022, with $117.21 million tendered, and the 4.125% Senior Notes due 2030, with $568.88 million tendered. Payment for accepted securities is planned for June 30, 2021, with an early tender premium of $30 per $1,000 principal. The final total consideration will be determined on June 29, 2021.

PPL Capital Funding, Inc. has extended the deadlines for its tender offers to purchase outstanding debt securities due to regulatory requirements and the recent Juneteenth holiday. The Early Tender Date and Withdrawal Deadline are now set for June 28, 2021, while the Expiration Date is July 13, 2021. The tender offers include a maximum purchase price of $1 billion for selected notes due in 2043, 2044, 2047, 2030, and 2026. The company aims to maintain compliance with the minimum tender offer periods as mandated by securities regulations.

PPL Corporation (NYSE: PPL) announced that David J. Bonenberger will be the president of The Narragansett Electric Company following PPL's planned acquisition of the Rhode Island utility from National Grid. Bonenberger, with nearly 40 years of experience, has led operational excellence in PPL Electric Utilities. Under his leadership, the team aims to enhance energy reliability and support Rhode Island's clean energy goals. The acquisition is pending regulatory approval, and a comprehensive leadership team from National Grid has been appointed to support Bonenberger.

PPL Capital Funding, Inc. has initiated Tender Offers to buy outstanding Senior Notes for cash, comprising:

• Any and all of 4.200%, 3.500%, 3.400%, and 3.950% Senior Notes.
• Up to $1 billion of 4.700%, 5.000%, 4.000%, 4.125%, and 3.100% Senior Notes.

The expiration date is set for July 12, 2021, while early tender offers expire on June 25, 2021. Payments will include accrued interest, and the company may adjust the purchase price or terms. Lead dealer managers include J.P. Morgan, Barclays, and Morgan Stanley.

PPL Corporation (NYSE: PPL) has completed the sale of its U.K. utility business, Western Power Distribution, to National Grid for £7.8 billion, translating to approximately $10.7 billion in cash proceeds. The net proceeds post-taxes and fees are expected around $10.4 billion. This strategic move is part of PPL's plan to focus on U.S. growth. Additionally, PPL is set to acquire The Narragansett Electric Company for $3.8 billion by March 2022, using approximately $6.6 billion from the transactions to reduce debt and explore growth opportunities.

PPL Electric Utilities is prepared for the 2021 Atlantic hurricane season, which NOAA predicts will have between 13 to 20 named storms, including three to five major hurricanes. Serving 1.4 million customers, PPL has proactively invested in infrastructure improvements such as automated sensors, smart grid technology, and stronger utility poles. These efforts have helped avoid over one million outages since 2015 and reduced customer outages by 30% since 2011. The company prioritizes grid reliability and continues to innovate for improved service.