Four PPL Corp. subsidiaries on March 8 extended their credit facilities by a year.
PPL Capital Funding Inc. extended the maturity date on its credit agreement to Jan. 26, 2024, from Jan. 26, 2023, and increased the credit limit to $1.45 billion, from $950 million. PPL Capital also extended the maturity date of its $100 million revolving credit loan to March 13, 2020. PPL Corp. served as the guarantor of both facilities.
PPL Electric Utilities Corp. extended the maturity on its $650 million revolver to Jan. 26, 2024, from Jan. 26, 2023.
Louisville Gas and Electric Co. amended its $500 million revolving credit facility to extend the maturity by one year to Jan. 26, 2024. Kentucky Utilities Co. amended its $400 million revolving credit facility to extend the maturity date by a year to Jan. 26, 2024, as well.
Wells Fargo NA acted as the administrative agent, issuing lender and swingline lender for PPL Capital's $1.45 billion loan, and for the credit facilities of PPL Electric Utilities, LG&E and KU. Bank of Nova Scotia acted as administrative agent for PPL Capital's $100 million loan amendments.