Item 2.03 Creation of a Direct Financial Obligation under an Off-Balance Sheet Arrangement of a Registrant

PPL Corporation

On July 29, 2022, PPL Corporation's subsidiaries, Louisville Gas and Electric Company ("LG&E") and Kentucky Utilities Company ("KU"), each entered into separate term loan agreements.

Louisville Gas and Electric Company



On July 29, 2022, LG&E, entered into a $300 million term loan credit agreement,
with U.S. Bank National Association, as Administrative Agent, and the other
Lenders party thereto (the "LG&E Credit Agreement"). The LG&E Credit Agreement
is filed as Exhibit 10.1 to this Report.

On July 29, 2022, LG&E borrowed the full principal amount of $300 million under
the LG&E Credit Agreement. All principal and unpaid interest under the term loan
is due and payable on July 29, 2024.

The term loan will, at the option of LG&E and except as otherwise provided in
the LG&E Credit Agreement, be incurred and maintained as a loan that bears
interest at a fluctuating per annum rate of interest based on the applicable
secured overnight financing rate ("SOFR"), the lender's prime rate or the
federal funds rate as provided in the credit agreement. LG&E may prepay the
principal and interest on the term loan and amounts prepaid may not be
reborrowed.

The LG&E Credit Agreement contains customary representations, covenants and
events of default. Under the LG&E Credit Agreement, LG&E is required to maintain
a Consolidated Debt to total Consolidated Capitalization ratio (as defined in
the LG&E Credit Agreement) not to exceed 70 percent. Failure to comply with this
covenant is an event of default.

Kentucky Utilities Company



On July 29, 2022, KU, entered into a $300 million term loan credit agreement,
with U.S. Bank National Association, as Administrative Agent, and the other
Lenders party thereto (the "KU Credit Agreement"). The KU Credit Agreement is
filed as Exhibit 10.2 to this Report.

On July 29, 2022, KU borrowed the full principal amount of $300 million under
the KU Credit Agreement. All principal and unpaid interest under the term loan
is due and payable on July 29, 2024.

The term loan will, at the option of KU and except as otherwise provided in the
KU Credit Agreement, be incurred and maintained as a loan that bears interest at
a fluctuating per annum rate of interest based on the applicable SOFR rate, the
lender's prime rate or the federal funds rate as provided in the credit
agreement. KU may prepay the principal and interest on the term loan and amounts
prepaid may not be reborrowed.

The KU Credit Agreement contains customary representations, covenants and events
of default. Under the KU Credit Agreement, KU is required to maintain a
Consolidated Debt to total Consolidated Capitalization ratio (as defined in the
KU Credit Agreement) not to exceed 70 percent. Failure to comply with this
covenant is an event of default.




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Item 9.01 Financial Statements and Exhibits



        (a)           Exhibits

                        10.1   -    $300,000,000 Term Loan Credit Agreement

dated as of July 29, 2022 among

Louisville Gas and Electric Company, as

Borrower, the Lenders from time to time


                                    party hereto and U.S. Bank National

Association, as Administrative Agent.


                        10.2   -    $300,000,000 Term Loan Credit Agreement

dated as of July 29, 2022 among Kentucky

Utilities Company, as Borrower, the

Lenders from time to time party hereto and

U.S. Bank National Association, as

Administrative Agent.


                      104 -         Cover Page Interactive Data File

(embedded within the Inline XBRL document).

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