---
schema_version: "secwatch.filing_event.v1"
accession: "0000922224-25-000057"
form_type: "8-K"
ticker: "PPL"
cik: "0000922224"
company_name: "PPL Corp"
filed_at: "2025-11-24T23:59:59+00:00"
generated_at: "2026-05-16T17:30:24.323411+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# PPL subsidiary issues $1.15B of 3.000% Exchangeable Senior Notes due 2030

## Summary
- $1.15B aggregate principal, 3.000% interest, semiannual, matures Dec 1, 2030; includes $150M from full greenshoe.
- Initial exchange rate 23.4412 shares/$1,000 principal (~$42.66/share), a 20% premium to $35.55 close on Nov 19, 2025.
- Net proceeds ~$1.14B after discounts; used to repay short-term debt and for general corporate purposes.
- Notes are senior unsecured obligations of PPL Capital Funding, fully and unconditionally guaranteed by PPL Corporation.
- Issued via private placement under Rule 144A to QIBs; shares deliverable upon exchange exempt from registration under Section 3(a)(9).

## SEC filing metadata
- accession: 0000922224-25-000057
- form_type: 8-K
- ticker: PPL
- cik: 0000922224
- company_name: PPL Corp
- filed_at: 2025-11-24T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/922224/000092222425000057/0000922224-25-000057-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/922224/000092222425000057/ppl-20251119.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000922224-25-000057
- JSON: https://secwatch.observer/filing/0000922224-25-000057.json
- Plain text: https://secwatch.observer/filing/0000922224-25-000057.txt

## Key facts
- Debt Financings
  PPL Corp incurred convertible notes of $1.15 billion aggregate principal amount with Wells Fargo Securities, LLC and Barclays Capital Inc., as representatives of the several initial purchasers at 3.000% per year maturing December 1, 2030.
  - Instrument: convertible notes
  - Principal: $1.15 billion aggregate principal amount
  - Counterparty: Wells Fargo Securities, LLC and Barclays Capital Inc., as representatives of the several initial purchasers
  - Rate: 3.000% per year
  - Maturity: December 1, 2030
  - Event: incurrence
  source text: On November 24, 2025, PPL Capital Funding, Inc., a wholly owned subsidiary of PPL Corporation (the "Issuer"), issued $1.15 billion aggregate principal amount of 3.000% Exchangeable Senior Notes due 2030 (the "Notes")
  evidence_url: https://www.sec.gov/Archives/edgar/data/922224/000092222425000057/0000922224-25-000057-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.