PPL unit Rhode Island Energy issues $400 million of 6.000% senior notes due 2056
The Narragansett Electric Company, doing business as Rhode Island Energy and a wholly owned subsidiary of PPL Corporation, issued $400 million of 6.000% senior notes due May 15, 2056 on May 18, 2026. The company expects net proceeds of $396.3 million, which it intends to use to repay short-term debt incurred mainly for capital expenditures and general corporate purposes. The notes are not guaranteed by PPL Corporation, so the obligation sits at the subsidiary level.
Key points
- $400 million principal at a 6.000% annual rate, with interest paid semiannually on May 15 and November 15, beginning November 15, 2026
- Net proceeds of $396.3 million before other fees and expenses, to be used to repay short-term debt
- Senior unsecured notes not guaranteed by PPL Corporation or its other subsidiaries; issued under a Seventh Supplemental Indenture dated May 18, 2026 with The Bank of New York Mellon
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:10 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 18, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.