05:50 AM EST, 11/20/2025 (MT Newswires) -- PPL (PPL) subsidiary PPL Capital Funding said Wednesday that it priced $1 billion of its 3% exchangeable senior unsecured notes due 2030 in a private placement.

The company also granted the initial purchasers a 13-day option to buy up to an additional $150 million of notes. Sale of the notes is expected to settle on Monday.

The notes will be exchangeable at an initial rate of 23.4412 common shares per $1,000 of notes, equivalent to an initial exchange price of about $42.66 per share.

The company said it plans to use the net proceeds to repay short-term debt and for general corporate purposes.