{"schema_version":"secwatch.filing_event.v1","accession":"0000922224-23-000016","form_type":"8-K","ticker":"PPL","cik":"0000922224","company_name":"PPL Corp","filed_at":"2023-02-24T23:59:59+00:00","discovered_at":"2026-05-14T18:03:48.590484+00:00","generated_at":"2026-06-19T01:13:33.684465+00:00","sec_items":["1.01","2.03","3.02","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"PPL subsidiary issues $1B of 2.875% exchangeable senior notes due 2028","bullets":["$1B aggregate principal (incl. $100M from full exercise of option) at 2.875% interest, due March 15, 2028.","Net proceeds $980M after discounts; used to repay short-term debt and for general corporate purposes.","Notes exchangeable into PPL common stock at initial exchange price ~$34.08/share (22.5% premium to $27.82 close).","Senior unsecured obligations of PPL Capital Funding, fully guaranteed by PPL Corporation.","No redemption before March 20, 2026; thereafter conditional on stock price meeting 130% of exchange price."],"urls":{"canonical":"https://secwatch.observer/filing/0000922224-23-000016","json":"https://secwatch.observer/filing/0000922224-23-000016.json","markdown":"https://secwatch.observer/filing/0000922224-23-000016.md","text":"https://secwatch.observer/filing/0000922224-23-000016.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/922224/000092222423000016/0000922224-23-000016-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/922224/000092222423000016/ppl-20230221.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-19T01:13:33.684465+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"23689d580d7ebb907c5fb7d33e6b39166bd5d63b","claim":"PPL Corp incurred senior notes of $1 billion aggregate principal amount with The Bank of New York Mellon, as trustee at 2.875% per year maturing March 15, 2028.","evidence_excerpt":"On February 24, 2023, PPL Capital Funding, Inc., a wholly owned subsidiary of PPL Corporation (the \"Issuer\"), issued $1 billion aggregate principal amount of 2.875% Exchangeable Senior Notes due 2028 (the \"Notes\")","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/922224/000092222423000016/0000922224-23-000016-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$1 billion aggregate principal amount"},{"label":"Counterparty","value":"The Bank of New York Mellon, as trustee"},{"label":"Rate","value":"2.875% per year"},{"label":"Maturity","value":"March 15, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"3af6d2de211610242eb13b83d24d62aa23bfbba6","claim":"PPL Corp entered into Indenture with The Bank of New York Mellon, as trustee valued at $1 billion aggregate principal amount of 2.875% Exchangeable Senior Notes due 2028 (effective 2023-02-24).","evidence_excerpt":"The Issuer issued the Notes pursuant to an indenture, dated as of February 24, 2023 (the \"Indenture\"), among the Issuer, the Guarantor and The Bank of New York Mellon, as trustee.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/922224/000092222423000016/0000922224-23-000016-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"The Bank of New York Mellon, as trustee"},{"label":"Value","value":"$1 billion aggregate principal amount of 2.875% Exchangeable Senior Notes due 2028"},{"label":"Effective","value":"2023-02-24"}],"fact_type":"material_agreement"},{"claim_id":"94b8547afdbaec2c438e38a065afd3033dcc2968","claim":"PPL Corp entered into Purchase Agreement with Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC and RBC Capital Markets, LLC, as representatives of the several initial purchasers named therein valued at $1 billion aggregate principal amount of 2.875% Exchangeable Senior Notes due 2028 (effective 2023-02-21).","evidence_excerpt":"In connection with the offering, the Issuer and the Guarantor entered into a purchase agreement dated February 21, 2023 (the \"Purchase Agreement\") with Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC and RBC Capital Markets, LLC, as representatives of the several initial purchasers named therein (the \"Initial Purchasers\").","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/922224/000092222423000016/0000922224-23-000016-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"underwriting"},{"label":"Counterparty","value":"Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC and RBC Capital Markets, LLC, as representatives of the several initial purchasers named therein"},{"label":"Value","value":"$1 billion aggregate principal amount of 2.875% Exchangeable Senior Notes due 2028"},{"label":"Effective","value":"2023-02-21"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}