JUNO BEACH, Fla. - Florida Power & Light Company today announced the sale of $300 million principal amount of 30-year first mortgage bonds bearing interest at 5.85 percent per year and maturing on May 1, 2037.
The first mortgage bonds will be offered to the public at 99.800 percent of par to yield 5.864 percent when held to maturity.
Net proceeds from the sale will be added to Florida Power & Light Company's general funds and Florida Power & Light Company expects to use its general funds to repay Florida Power & Light Company's short-term borrowings and for other corporate purposes.
The sale was underwritten by a group that includes ABN AMRO Incorporated, Barclays Capital Inc. and Citigroup Global Markets Inc. as joint book-running managers. The co-managers are BNY Capital Markets, Inc., Calyon Securities (USA) Inc., KeyBanc Capital Markets, a Division of McDonald Investments Inc., Lazard Capital Markets LLC, Mizuho Securities USA Inc., and Wells Fargo Securities, LLC. A prospectus relating to these first mortgage bonds may be obtained from ABN AMRO Incorporated, Barclays Capital Inc. and Citigroup Global Markets Inc.
Florida Power & Light Company is the principal subsidiary of FPL Group, Inc. (NYSE: FPL), nationally known as a high quality, efficient and customer-driven organization focused on energy-related products and services. Florida Power & Light Company serves 4.4 million customer accounts in Florida. FPL Energy, LLC, FPL Group's competitive energy subsidiary, is a leader in producing electricity from clean and renewable fuels. Additional information is available on the Internet at www.FPL.com, www.FPLGroup.com and www.FPLEnergy.com.