PPL announced a new financing arrangement with 21 regional and local banks in eastern and central Pennsylvania to provide a $300 million revolving credit facility that will be used for general corporate purposes. PNC Capital Markets and Manufacturers and Traders Trust acted as lead arrangers.

Over the next five years, PPL’s Pennsylvania companies plan to invest more than $4 billion in improvements to its electricity infrastructure. The $300 million revolving credit facility will be used as a tool in the effective management of the company’s liquidity needs.

“We are very pleased to announce this innovative financing, which we believe will contribute to community development, including job creation and training, affordable housing and support for small businesses,” said Paul A. Farr, PPL’s executive vice president and CFO. “By strengthening the loan portfolios of these excellent institutions, we are enhancing the ability of these banks to fund other local development projects.”

The banks that are part of the credit facility operate more than 1,200 branches in central and eastern Pennsylvania, with $65 billion in deposits. PNC Capital Markets and Manufacturers and Traders Trust Company served as the lead arrangers for the transaction. National Penn Bank will serve as documentation agent. PNC Bank will serve as the administrative agent. Manufacturers and Traders Trust Company will serve as the syndication agent.

Other participating banks are: American Bank, Beneficial Mutual Bancorp, Bryn Mawr Trust Company, Citizens Bank of PA, First Keystone Community Bank, First National Bank of Pennsylvania, First Niagara Bank, First Savings Bank of Perkasie, Juniata Valley Bank, Lafayette Ambassador Bank, Mauch Chunk Trust Company, Merchants Bank of Bangor, Metro Bank, QNB Bank, Susquehanna Bank, TD Bank, Team Capital Bank and Wayne Bank.

CFSD Group served as adviser to PPL in this transaction.

PPL Corp. is one of the largest companies in the U.S. utility sector, with 2012 revenues of more than $12 billion.