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PPL Corporation (NYSE: PPL) is a renowned global energy company headquartered in Allentown, Pennsylvania. PPL serves over 10.5 million customers across Pennsylvania, Kentucky, and the United Kingdom with its high-performing regulated utilities, including Western Power Distribution, Louisville Gas and Electric, Kentucky Utilities, and PPL Electric Utilities. These subsidiaries are consistently recognized for delivering outstanding service in both the U.S. and the U.K.
PPL's operations span across electricity generation, transmission, and distribution, as well as natural gas services. The company is a positive force in its communities, supporting job creation programs and donating millions to charitable organizations to enhance the quality of life. Additionally, PPL's workforce of over 13,000 employees actively volunteers their time and energy to assist others.
Recent achievements include a significant $72 million award from the U.S. Department of Energy to fund a pioneering carbon dioxide (CO2) capture project in collaboration with the University of Kentucky and other partners. This project aims to capture up to 90,000 metric tons of CO2 annually, equivalent to the emissions of 20,000 gasoline-powered cars, marking a major step towards PPL's goal of achieving net-zero carbon emissions by 2050.
PPL continues to innovate and invest in infrastructure, recently committing to $14.3 billion in planned investments through 2027 to modernize the grid, enhance reliability, and support renewable energy integration. The company also maintains a strong financial position, with reported 2023 earnings of $740 million and an ongoing commitment to dividend growth.
PPL's subsidiaries are involved in various strategic projects, such as deploying advanced smart metering technology in Rhode Island through a partnership with Landis+Gyr. This initiative will support the state's clean energy goals and grid modernization efforts.
Overall, PPL Corporation remains dedicated to providing safe, reliable, and affordable energy while advancing sustainable energy solutions and fostering community development.
PPL Corporation (NYSE: PPL) is expanding its commitment to clean energy by joining Energy Impact Partners' global investment platform, pledging up to $50 million. This investment aims to enhance innovation for a sustainable energy future. The collaboration will focus on advancing technologies essential for achieving net-zero emissions while maintaining energy reliability. Additionally, PPL's partnership supports the Elevate Future Fund, which promotes diversity and inclusion in energy transition efforts. PPL also committed $275 million to diverse suppliers in 2020.
PPL Capital Funding, a subsidiary of PPL Corporation (NYSE: PPL), announced the expiration of its tender offers for various Senior Notes and related debt securities. The offers ended on July 13, 2021, with PPL accepting $1,961,603,000 of validly tendered securities. The company redeemed remaining outstanding notes on July 15, 2021. This action enhances PPL's capital management strategy by effectively managing its debt. J.P. Morgan, Barclays, and Morgan Stanley acted as lead dealer managers, while D.F. King & Co. served as the information agent.
PPL Corporation (NYSE: PPL) will announce its consolidated second-quarter 2021 earnings on Thursday, Aug. 5. The company's CEO, Vincent Sorgi, along with the executive team, will discuss the financial results and outlook in a conference call at 11 a.m. Eastern Time. Interested parties can access the live webcast and presentation slides via PPL's investor website. A replay will be available for 90 days post-call. PPL serves over 2.5 million customers with a focus on reliable and sustainable energy solutions.
PPL Capital Funding, a subsidiary of PPL Corporation (NYSE: PPL), announced pricing terms for its tender offers to purchase outstanding debt securities. The tender includes any and all of its Senior Notes due in 2022, 2023, and 2024, as well as specific maximum tender offer notes due in 2043, 2044, 2047, 2030, and 2026. The offers were announced on June 29, 2021, with the early tender date being June 28, 2021. Securities accepted will receive a total consideration based on reference yields plus fixed spreads, which includes an early tender premium of $30 per $1,000 principal amount.
PPL Capital Funding, Inc. announced early results of its tender offers for its outstanding Senior Notes, increasing the maximum purchase price from $1 billion to accommodate all validly tendered notes. A total of $2.29 billion in securities was tendered by the June 28, 2021 deadline. Key securities include the 4.200% Senior Notes due 2022, with $117.21 million tendered, and the 4.125% Senior Notes due 2030, with $568.88 million tendered. Payment for accepted securities is planned for June 30, 2021, with an early tender premium of $30 per $1,000 principal. The final total consideration will be determined on June 29, 2021.
PPL Capital Funding, Inc. has extended the deadlines for its tender offers to purchase outstanding debt securities due to regulatory requirements and the recent Juneteenth holiday. The Early Tender Date and Withdrawal Deadline are now set for June 28, 2021, while the Expiration Date is July 13, 2021. The tender offers include a maximum purchase price of $1 billion for selected notes due in 2043, 2044, 2047, 2030, and 2026. The company aims to maintain compliance with the minimum tender offer periods as mandated by securities regulations.
PPL Corporation (NYSE: PPL) announced that David J. Bonenberger will be the president of The Narragansett Electric Company following PPL's planned acquisition of the Rhode Island utility from National Grid. Bonenberger, with nearly 40 years of experience, has led operational excellence in PPL Electric Utilities. Under his leadership, the team aims to enhance energy reliability and support Rhode Island's clean energy goals. The acquisition is pending regulatory approval, and a comprehensive leadership team from National Grid has been appointed to support Bonenberger.
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