PPL Capital Funding, Inc. announces proposed private placement of $1 billion of Exchangeable Senior Notes
PPL Capital Funding (NYSE: PPL) announced a proposed private placement of $1.0 billion aggregate principal amount of Exchangeable Senior Notes due December 1, 2030, with an initial purchasers' option for up to an additional $150 million. The notes will be senior, unsecured obligations of PPL Capital Funding and fully guaranteed on a senior, unsecured basis by PPL Corporation.
The notes accrue interest payable semi-annually, will be exchangeable for cash, shares of PPL common stock, or a combination, and are subject to specified exchange periods and conditions before September 1, 2030. PPL Capital Funding may not redeem the notes before December 5, 2028. Net proceeds are intended to repay short-term debt and for general corporate purposes.
PPL Capital Funding (NYSE: PPL) ha annunciato una proposta di collocamento privato di un importo nominale aggregato di $1.0 miliardo di Notes Senior Exchangeable in scadenza 1 dicembre 2030, con un'opzione iniziale degli acquirenti per ulteriori $150 milioni. Le note saranno obbligazioni senior non garantite di PPL Capital Funding e saranno interamente garantite in via senior non garantita da PPL Corporation.
Le note accumulate interessi pagabili semestralmente e potranno essere convertite in contanti, azioni ordinarie PPL o una combinazione, e sono soggette a periodi di scambio e condizioni specifiche prima del 1 settembre 2030. PPL Capital Funding non potrà rimborsare le note prima del 5 dicembre 2028. Il ricavato netto è destinato a ripagare debiti a breve termine e a scopi aziendali generali.
PPL Capital Funding (NYSE: PPL) anunció una colocación privada de un importe principal agregado de $1.0 mil millones de Notas Senior Intercambiables con vencimiento el 1 de diciembre de 2030, con una opción inicial de los compradores para hasta $150 millones adicionales. Las notas serán obligaciones senior no aseguradas de PPL Capital Funding y estarán totalmente garantizadas de forma solidaria por PPL Corporation.
Las notas devengan intereses pagaderos semestralmente y podrán canjearse por efectivo, acciones ordinarias de PPL o una combinación, y están sujetas a periodos de canje y condiciones específicas antes del 1 de septiembre de 2030. PPL Capital Funding no podrá redimir las notas antes del 5 de diciembre de 2028. Los ingresos netos se destinarán a pagar deuda a corto plazo y para fines corporativos generales.
PPL Capital Funding (NYSE: PPL)은 2030년 12월 1일에 만기되는 $1.0 십억의 교환가능한 선순위 채권의 사모 배정을 발표했고, 초기 매입자 옵션으로 추가로 최대 $150 백만까지 가능하다. 채권은 PPL Capital Funding의 선순위 무담보 채무이며, PPL Corporation에 의해 선순위 무담보로 완전히 보증된다.
채권은 이자를 반기마다 지급받고 현금, PPL 보통주, 또는 그 조합으로 교환될 수 있으며, 2030년 9월 1일 이전의 특정 교환 기간 및 조건에 따른다. PPL Capital Funding은 2028년 12월 5일 이전에 채권을 상환할 수 없다. 순수익은 단기 부채를 상환하고 일반 기업 목적에 사용될 예정이다.
PPL Capital Funding (NYSE: PPL) a annoncé une émission privée d'un montant nominal agrégé de $1,0 milliard de Notes Senior Exchangeables arrivant à échéance le 1er décembre 2030, avec une option d'achat initiale permettant jusqu'à $150 millions supplémentaires. Les notes seront des obligations senior non garanties de PPL Capital Funding et seront entièrement garanties sur une base senior non garantie par PPL Corporation.
Les notes produisent des intérêts payables semestriellement et peuvent être échangées contre de l'argent, des actions ordinaires PPL ou une combinaison, et sont soumises à des périodes d'échange et à des conditions spécifiques avant le 1er septembre 2030. PPL Capital Funding ne peut pas racheter les notes avant le 5 décembre 2028. Le produit net sera utilisé pour rembourser une dette à court terme et à des fins générales d'entreprise.
PPL Capital Funding (NYSE: PPL) gab eine Privatplatzierung über eine Gesamtnennsumme von $1,0 Milliarden an Exchangeable Senior Notes bekannt, fällig am 1. Dezember 2030, mit einer Initialkäuferoption für bis zu zusätzliche $150 Millionen. Die Anleihen sind senior, ungesicherte Verbindlichkeiten von PPL Capital Funding und vollständig senior, ungesichert durch PPL Corporation garantiert.
Die Notes verzinsen sich und zahlbar halbjährlich und können gegen Bargeld, Aktien von PPL oder eine Kombination eingetauscht werden, und unterliegen vor dem 1. September 2030 bestimmten Austauschzeiträumen und Bedingungen. PPL Capital Funding darf die Notes nicht vor dem 5. Dezember 2028 zurückkaufen. Die Nettomittelzwecke bestehen darin, kurzfristige Schulden zu tilgen und für allgemeine Unternehmenszwecke zu verwenden.
PPL Capital Funding (NYSE: PPL) أعلنت عن عرض خاص لإصدار سندات قابلة للتحويل من الدرجة العليا بمبلغ أساسي إجمالي قدره $1.0 مليار تستحق في 1 ديسمبر 2030، مع خيار للمشتريين الأوائل بإضافة ما يصل إلى $150 مليون إضافية. ستكون هذه السندات التزامات Sr. غير مضمونة من قبل شركة PPL Capital Funding ومضمونة بالكامل من قِبل شركة PPL Corporation كضمان من فئة Sr. غير مضمونة.
تكسب السندات فائدة تدفع نصف سنوياً، ويمكن تحويلها إلى نقود أو أسهم عادية في PPL أو مزيج من كليهما، وتخضع لفترات تبادل وشروط محددة قبل 1 سبتمبر 2030. لا يجوز لـ PPL Capital Funding سداد السندات قبل 5 ديسمبر 2028. ستخصص العائدات الصافية لسداد الدين قصير الأجل وللأغراض العامة للشركة.
- $1.0B initial offering size announced
- Underwriters may increase size by up to $150M
- Notes fully guaranteed by PPL Corporation
- Net proceeds earmarked to repay short-term debt
- Notes are senior unsecured obligations adding liability
- Exchange feature allows settlement in PPL common stock, causing potential dilution
- Interest accrues and is payable semi-annually
Insights
PPL Capital Funding proposes a
PPL Capital Funding will issue senior, unsecured exchangeable notes due
The structure shifts short-term liabilities into a medium-term instrument and introduces potential equity dilution when exchanges occur. Redemption is possible on or after
Key items to watch near term include final offering size and pricing, the actual proceeds allocated to short-term debt reduction, the exchange price and mechanics, and any amendments to the guaranty or covenants; monitor developments through the issuance and through
The notes will be senior, unsecured obligations of PPL Capital Funding and will be fully and unconditionally guaranteed on a senior, unsecured basis by PPL Corporation. The notes will accrue interest payable semi-annually in arrears. The notes will mature on December 1, 2030, unless earlier exchanged, redeemed or repurchased.
Upon exchange of the notes, PPL Capital Funding will pay cash up to the aggregate principal amount of the notes to be exchanged and pay or deliver (or cause to be delivered), as the case may be, cash, shares of PPL Corporation's common stock (the "common stock") or a combination of cash and shares of the common stock, at PPL Capital Funding's election, in respect of the remainder, if any, of its exchange obligation in excess of the aggregate principal amount of the notes being exchanged. Prior to the close of business on the business day immediately preceding September 1, 2030, the notes will be exchangeable at the option of the noteholders only upon the satisfaction of specified conditions and during certain periods. On or after September 1, 2030, until the close of business on the business day immediately preceding the maturity date, the notes will be exchangeable at the option of the noteholders at any time regardless of these conditions or periods.
PPL Capital Funding may not redeem the notes prior to December 5, 2028. PPL Capital Funding may redeem for cash all or any portion of the notes (subject to certain limitations), at its option, on or after December 5, 2028, if the last reported sale price of the common stock has been at least
Subject to certain conditions and a limited exception, holders of the notes will have the right to require PPL Capital Funding to repurchase all or a portion of their notes upon the occurrence of a fundamental change (as defined in the indenture that will govern the notes) at a repurchase price of
PPL Capital Funding intends to use the net proceeds from the offering to repay short-term debt and for general corporate purposes.
The notes are being offered only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. The notes, the guarantee, and the shares of common stock deliverable upon exchange of the notes, if any, have not been, nor will be, registered under the Securities Act or the securities laws of any other jurisdiction, and unless so registered, may not be offered or sold in
This announcement is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
About PPL
PPL Corporation (NYSE: PPL), based in
Cautionary Statement Concerning Forward-Looking Statements
Statements contained in this news release, including without limitation terms and phrases that include "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "guidance," "outlook," or other similar terminology, are "forward-looking statements" within the meaning of the federal securities laws. Although PPL Corporation believes that the expectations and assumptions reflected in these forward-looking statements are reasonable, these statements are subject to a number of risks and uncertainties, and actual results may differ materially from the results discussed in the statements. The following are among the important factors that could cause actual results to differ materially from the forward-looking statements: strategic acquisitions, dispositions, joint ventures or similar transactions and our ability to consummate these business transactions, integrate the acquired entities or realize expected benefits from them; pandemic health events or other catastrophic events, including severe weather, and their effect on financial markets, economic conditions and our businesses; weather conditions affecting customer energy usage and operating costs; volatility in or the impact of other changes on financial markets, commodity prices and economic conditions, including inflation; significant changes in the demand for electricity; the effect of any business or industry restructuring; the profitability and liquidity of PPL Corporation and its subsidiaries; new accounting requirements or new interpretations or applications of existing requirements; operating performance of our facilities; the length of scheduled and unscheduled outages at our generating plants; environmental conditions and requirements, and the related costs of compliance; system conditions and operating costs; development of new projects, markets and technologies; performance of new ventures; receipt of necessary government permits, approvals, rate relief and regulatory cost recovery; capital market conditions, including interest rates, and decisions regarding capital structure; the impact of state, federal or foreign investigations applicable to PPL Corporation and its subsidiaries; the outcome of litigation involving PPL Corporation and its subsidiaries; stock price performance; the market prices of debt and equity securities and the impact on pension income and resultant cash funding requirements for defined benefit pension plans; the securities and credit ratings of PPL Corporation and its subsidiaries; political, regulatory or economic conditions in states, regions or countries where PPL Corporation or its subsidiaries conduct business, including any potential direct or indirect effects of threatened or actual cyberattack, terrorism, or war or other hostilities, including the war in
Note to Editors: Visit our media website at www.pplnewsroom.com for additional news about PPL Corporation.
|
Contacts: |
For news media: Ryan Hill, 610-774-4033 |
View original content to download multimedia:https://www.prnewswire.com/news-releases/ppl-capital-funding-inc-announces-proposed-private-placement-of-1-billion-of-exchangeable-senior-notes-302620112.html
SOURCE PPL Services Corporation
FAQ
What is PPL Capital Funding offering in the November 19, 2025 filing for PPL?
How are the PPL Exchangeable Senior Notes guaranteed and when do they mature?
When can holders exchange PPL Capital Funding notes for PPL common stock?
What will PPL Capital Funding use the net proceeds from the note offering for?
Are there early redemption limits on the PPL exchangeable notes?
Will the PPL exchangeable notes cause shareholder dilution if exchanged?
