PPL Capital Funding launches $900M private placement of Exchangeable Senior Notes due 2028

PPL Corp

$900M principal amount of Exchangeable Senior Notes due March 15, 2028, with option for additional $100M.
Notes are senior unsecured obligations of PPL Capital Funding, fully guaranteed by PPL Corporation.
Exchangeable for cash and/or PPL common stock at PPL Capital Funding's election; interest payable semi-annually.
Net proceeds to repay short-term debt and for general corporate purposes.
Offered to qualified institutional buyers under Rule 144A; not registered under Securities Act.

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