PPL Corp Files 8-K on Material Definitive Agreement

Ticker: PPLC · Form: 8-K · Filed: Mar 25, 2024 · CIK: 922224

Ppl Corp 8-K Filing Summary
FieldDetail
CompanyPpl Corp (PPLC)
Form Type8-K
Filed DateMar 25, 2024
Risk Levelmedium
Pages3
Reading Time4 min
Key Dollar Amounts$500 million, $496.4 m
Sentimentneutral

Sentiment: neutral

Topics: material-definitive-agreement, financial-obligation

Related Tickers: PPL

TL;DR

PPL Corp just signed a big financial deal, filing an 8-K. Keep an eye on this.

AI Summary

PPL Corporation entered into a material definitive agreement on March 21, 2024, related to a direct financial obligation. The filing details the company's corporate information, including its address at Two N Ninth St, Allentown, PA, and its IRS number 23-2758192.

Why It Matters

This filing indicates PPL Corp has entered into a significant financial agreement, which could impact its financial obligations and future operations.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new financial obligations or risks for a company.

Key Players & Entities

  • PPL Corporation (company) — Registrant
  • Two N Ninth St, Allentown, PA (location) — Business Address
  • 23-2758192 (organization_id) — IRS Employer Identification No.
  • March 21, 2024 (date) — Date of earliest event reported

FAQ

What type of material definitive agreement did PPL Corporation enter into?

The filing indicates the entry into a material definitive agreement and the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, but the specific details of the agreement are not provided in this summary.

When was the earliest event reported in this 8-K filing?

The earliest event reported in this 8-K filing was on March 21, 2024.

What is PPL Corporation's primary business classification?

PPL Corporation is classified under ELECTRIC SERVICES [4911].

Where is PPL Corporation headquartered?

PPL Corporation's business address is Two N Ninth St, Allentown, PA, 18101-1179.

What is the SEC file number for PPL Corporation?

The SEC file number for PPL Corporation is 001-11459.

Filing Stats: 1,048 words · 4 min read · ~3 pages · Grade level 12 · Accepted 2024-03-25 16:24:34

Key Financial Figures

  • $500 million — d subsidiary of PPL Corporation, issued $500 million aggregate principal amount of 5.350% Se
  • $496.4 m — roceeds from the sale of the Notes were $496.4 million, after deducting discounts and co

Filing Documents

01 Entry Into a Material Definitive Agreement

Item 1.01 Entry Into a Material Definitive Agreement On March 25, 2024, The Narragansett Electric Company (d/b/a Rhode Island Energy) (the "Issuer"), a wholly owned subsidiary of PPL Corporation, issued $500 million aggregate principal amount of 5.350% Senior Notes due 2034 (the "Notes"). The Notes were issued in a private placement (the "offering") to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act") and to certain non-U.S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act. The Notes will be senior, unsecured obligations of the Issuer and will not be guaranteed by PPL Corporation or any of its other subsidiaries. The Notes bear interest at a rate of 5.350% per year, payable semiannually in arrears on May 1 and November 1 of each year, beginning on November 1, 2024. The Notes will mature on May 1, 2034, subject to early redemption at the Issuer's option. In connection with the offering, the Issuer entered into a purchase agreement dated March 21, 2024 (the "Purchase Agreement") with Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Mizuho Securities USA LLC and RBC Capital Markets, LLC, as representatives of the several initial purchasers named therein (the "Initial Purchasers"). The net proceeds from the sale of the Notes were $496.4 million, after deducting discounts and commissions to the Initial Purchasers but before other estimated fees and expenses. The Issuer intends to use the net proceeds from the offering to repay short-term debt and for general corporate purposes. Supplemental Indenture The Issuer issued the Notes pursuant to a base indenture dated March 22, 2010 (the "Base Indenture"), as supplemented prior to the date hereof, by and between the Issuer and The Bank of New York Mellon, as trustee, as further supplemented by a sixth supplemental indenture dated March 25, 2024 between the Is

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits 4.1 - Indenture, dated March 22, 2010, between the Issuer and The Bank of New York Mellon * 4.2 - Sixth Supplemental Indenture, dated March 25, 2024, between the Issuer and The Bank of New York Mellon 4.3 - Form of 5.350% Senior Notes due 2034 (included in Exhibit 4.2) 104 - Cover Page Interactive Data File (embedded within the Inline XBRL document) * Previously filed as Exhibit 4(a)-1 to the Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2022 filed by PPL Corporation on August 3, 2022. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PPL CORPORATION By: /s/ Marlene C. Beers Marlene C. Beers Vice President and Controller Dated: March 25, 2024

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