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PPL's Western Power secures £230M term loan facility

PPL Corp. U.K. subsidiary Western Power Distribution plc borrowed £230 million under a nine-month term loan facility on March 29.

The loan will be used "to make an advanced payment of [Western Power's] pension contribution for the year ending April 5, 2018," according to a Form 8-K filed April 3.

Interest will be payable semiannually per the terms agreed upon under the facility.

HSBC Bank PLC and Mizuho Bank Ltd. were the mandated lead arrangers, with Mizuho Bank also acting as facility agent.