The 5.250% investment-grade senior notes are due 2034

Davis Polk advised PPL Capital Funding, Inc. on its registered offering of $750 million aggregate principal amount of 5.250% senior notes due 2034, 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 for general corporate purposes, including the repayment of short-term debt obligations.

PPL Corporation, headquartered in Allentown, Pennsylvania, is a leading U.S. energy company focused on providing electricity and natural gas safely, reliably and affordably to more than 3.5 million customers in the U.S. PPL’s high-performing, award-winning utilities are addressing energy challenges head-on by building smarter, more resilient and more dynamic power grids and advancing sustainable energy solutions.

The Davis Polk team included partner Michael Kaplan and associates Christian Knoble and Maggie Li. The tax team included partner Lucy W. Farr, counsel Tracy L. Matlock and associates Danielle Rapaccioli and Michael Mirabella. Counsel David A. Zilberberg and associate Shefain Islam provided environmental advice. All members of the Davis Polk team are based in the New York office.

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