--- schema_version: "secwatch.filing_event.v1" accession: "0000922224-26-000010" form_type: "8-K" ticker: "PPL" cik: "0000922224" company_name: "PPL Corp" filed_at: "2026-02-26T23:59:59+00:00" generated_at: "2026-05-16T00:00:17.817727+00:00" event_type: "debt" sentiment: "neutral" materiality_score: 0.65 calibrated_materiality_score: 0.65 confidence: "high" source: SEC EDGAR --- # PPL issues $1.15B of 7% corporate units with mandatory stock purchase in 2029 ## Summary - Issued 23M Corporate Units at $50 each, raising $1.15B total including full over-allotment. - Each unit includes a stock purchase contract (2.98% annual payment) and interests in 4.02% senior notes due 2034 and 2039. - Holders must purchase common stock for $50 in cash by February 15, 2029, under the purchase contracts. - Annual distribution on each unit totals 7.00% of stated amount, split between contract adjustment and note interest. ## SEC filing metadata - accession: 0000922224-26-000010 - form_type: 8-K - ticker: PPL - cik: 0000922224 - company_name: PPL Corp - filed_at: 2026-02-26T23:59:59+00:00 - event_type: debt - sentiment: neutral - materiality_score: 0.65 - calibrated_materiality_score: 0.65 - confidence: high - sec_items: 1.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/922224/000092222426000010/0000922224-26-000010-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/922224/000092222426000010/ppl-20260223.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0000922224-26-000010 - JSON: https://secwatch.observer/filing/0000922224-26-000010.json - Plain text: https://secwatch.observer/filing/0000922224-26-000010.txt ## Key facts - Material Agreements PPL Corp entered into Purchase Contract and Pledge Agreement dated February 26, 2026 with The Bank of New York Mellon valued at Stock purchase contracts and pledge of RSNs as collateral for Common Stock purchase obligations (effective 2026-02-26). - Action: entry - Agreement: equity purchase - Counterparty: The Bank of New York Mellon - Value: Stock purchase contracts and pledge of RSNs as collateral for Common Stock purchase obligations - Effective: 2026-02-26 source text: The stock purchase contracts were issued pursuant to a Purchase Contract and Pledge Agreement dated as of February 26, 2026 (the "Purchase Contract and Pledge Agreement"), among the Company and The Bank of New York Mellon, as purchase contract agent, collateral agent, custodial agent and securities intermediary. evidence_url: https://www.sec.gov/Archives/edgar/data/922224/000092222426000010/0000922224-26-000010-index.htm - Material Agreements PPL Corp entered into Supplemental Indenture No. 20 (2039 RSNs) dated February 26, 2026 with The Bank of New York Mellon valued at Establishes terms of $1,000 principal amount 4.02% Remarketable Senior Notes due 2039 (effective 2026-02-26). - Action: entry - Agreement: credit facility - Counterparty: The Bank of New York Mellon - Value: Establishes terms of $1,000 principal amount 4.02% Remarketable Senior Notes due 2039 - Effective: 2026-02-26 source text: including by Supplemental Indenture No. 19, establishing the terms of the 2034 RSNs and by Supplemental Indenture No. 20, establishing the terms of the 2039 RSNs, each dated as of February 26, 2026. evidence_url: https://www.sec.gov/Archives/edgar/data/922224/000092222426000010/0000922224-26-000010-index.htm - Material Agreements PPL Corp entered into Supplemental Indenture No. 19 (2034 RSNs) dated February 26, 2026 with The Bank of New York Mellon valued at Establishes terms of $1,000 principal amount 4.02% Remarketable Senior Notes due 2034 (effective 2026-02-26). - Action: entry - Agreement: credit facility - Counterparty: The Bank of New York Mellon - Value: Establishes terms of $1,000 principal amount 4.02% Remarketable Senior Notes due 2034 - Effective: 2026-02-26 source text: including by Supplemental Indenture No. 19, establishing the terms of the 2034 RSNs and by Supplemental Indenture No. 20, establishing the terms of the 2039 RSNs, each dated as of February 26, 2026. evidence_url: https://www.sec.gov/Archives/edgar/data/922224/000092222426000010/0000922224-26-000010-index.htm - Material Agreements PPL Corp entered into Underwriting Agreement dated February 23, 2026 with J.P. Morgan Securities LLC, BofA Securities, Inc., Morgan Stanley & Co. LLC, RBC Capital Markets, LLC valued at Issuance and sale of up to 23,000,000 Corporate Units at $50 each (effective 2026-02-23). - Action: entry - Agreement: underwriting - Counterparty: J.P. Morgan Securities LLC, BofA Securities, Inc., Morgan Stanley & Co. LLC, RBC Capital Markets, LLC - Value: Issuance and sale of up to 23,000,000 Corporate Units at $50 each - Effective: 2026-02-23 source text: On February 23, 2026, PPL Corporation (the "Company") and PPL Capital Funding, Inc. ("PPL Capital Funding") entered into an underwriting agreement (the "Underwriting Agreement") with the underwriters named in Section 3 thereto (the "Underwriters"), for whom J.P. Morgan Securities LLC, BofA Securities, Inc., Morgan Stanley & Co. LLC and RBC Capital Markets, LLC are acting as representatives, covering the issuance and sale of 20,000,000 equity units, initially in the form of corporate units (the "Corporate Units"). evidence_url: https://www.sec.gov/Archives/edgar/data/922224/000092222426000010/0000922224-26-000010-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.