Current Report — Form 8-K — Sect. 13 / 15(d) – SEA’34 Filing Table of Contents
Document/ExhibitDescriptionPagesSize 1: 8-K Current Report HTML 30K
2: EX-10.1 Material Contract HTML 304K
9: R1 Document and Entity Information Document and HTML 53K
11: XML IDEA XML File -- Filing Summary XML 12K
8: XML XBRL Instance -- ppl-20210226_htm XML 31K
10: EXCEL IDEA Workbook of Financial Reports XLSX 6K
4: EX-101.CAL XBRL Calculations -- ppl-20210226_cal XML 9K
5: EX-101.DEF XBRL Definitions -- ppl-20210226_def XML 53K
6: EX-101.LAB XBRL Labels -- ppl-20210226_lab XML 112K
7: EX-101.PRE XBRL Presentations -- ppl-20210226_pre XML 53K
3: EX-101.SCH XBRL Schema -- ppl-20210226 XSD 22K
12: JSON XBRL Instance as JSON Data -- MetaLinks 17± 27K
13: ZIP XBRL Zipped Folder -- 0000922224-21-000010-xbrl Zip 92K
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
of each class
Name of each exchange on which registered
iCommon Stock of PPL Corporation
York Stock Exchange
Junior Subordinated Notes of PPL Capital Funding, Inc.
i2007 Series A due 2067
York Stock Exchange
i2013 Series B due 2073
York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company i☐
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Section 1 - Registrant's Business and Operations
Item 1.01 Entry into a Material Definitive Agreement
Item 2.03 Creation of a Direct Financial Obligation
or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
On February 26, 2021, Western Power Distribution PLC ("WPD"), an indirect wholly owned subsidiary of PPL Corporation, entered into a £350 million credit facility with J.P. Morgan AG as Agent and the financial institutions party thereto as Original Lenders (the "Credit Facility").
Borrowings under the Credit Facility bear interest at a percentage rate per annum which is equal to the sum of (a) the margin plus (b) the LIBOR rate. The margin is 100 basis points per annum.
The Credit Facility is voluntarily prepayable from time to time without premium or penalty, and is mandatorily prepayable upon certain events, including in the event of a Change of
Control, as defined in the Credit Facility, of WPD.
In addition, under the Credit Facility WPD is subject to certain financial covenants, which require that WPD's (i) total net debt does not exceed 87.5% of its regulatory asset value, as determined from time to time by the U.K. Office of Gas and Electricity Markets, and (ii) consolidated EBITDA to interest payable is no less than 3.0 to 1.0, in each case as calculated pursuant to such agreement. WPD intends to use the Credit Facility for the repayment of existing corporate debt and for general corporate purposes.
The Credit Facility also contains customary representations, covenants and events of default. Failure to meet the covenants beyond applicable grace periods and certain other events could result in acceleration of the loans and/or termination of the Credit Facility.
foregoing summary of the Credit Facility does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Credit Facility, which is filed as Exhibits 10.1 hereto and incorporated herein by reference.