Davis Polk advised PPL Capital Funding, Inc. on its registered offering of $500 million aggregate principal amount of 4.000% senior notes due 2047, fully and unconditionally guaranteed by PPL Corporation. PPL Capital Funding and PPL Corporation expect the net proceeds from the sale of the notes to be used to repay short-term debt obligations, including commercial paper borrowings and for general corporate purposes.

PPL Corporation, headquartered in Allentown, Pennsylvania, is a utility holding company that was incorporated in 1994. PPL, through its regulated utility subsidiaries, delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky and generates electricity from power plants in Kentucky.

The Davis Polk team included partner Michael Kaplan and associates Judah Bareli, Hillary A. Coleman and Marcus Tan. The tax team included partner Mario J. Verdolini and associate Tracy L. Matlock. Counsel Betty Moy Huber and associate Yuko Masunaga provided environmental advice. All members of the Davis Polk team are based in the New York office.

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