JUNO BEACH, Fla. – Florida Power & Light Company (FPL) today announced the sale of $400 million in principal amount 30-year first mortgage bonds bearing interest at 5.25 percent per year and maturing on Feb. 1, 2041.
The first mortgage bonds will be offered to the public at 99.752 percent of face value to yield 5.267 percent when held to maturity.
Net proceeds from the sale will be added to FPL’s general funds. The company expects to use its general funds to repay short-term borrowings and for other general corporate purposes.
The sale was underwritten by a group that includes Credit Agricole Securities (USA) Inc., Mizuho Securities USA Inc., Scotia Capital (USA) Inc., U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC as joint book-running managers. The co-managers are BBVA Securities Inc., BNY Mellon Capital Markets, LLC, Loop Capital Markets LLC and UBS Securities LLC. A prospectus relating to these first mortgage bonds may be obtained from Credit Agricole Securities (USA) Inc., Mizuho Securities USA Inc., Scotia Capital (USA) Inc., U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC.
Florida Power & Light
Florida Power & Light Company is the largest electric utility in Florida and one of the largest rate-regulated utilities in the United States. FPL serves approximately 4.5 million customer accounts in Florida and is a leading employer in the state with more than 10,000 employees. The company consistently outperforms national averages for service reliability while customer bills are below the national average. A clean energy leader, FPL has one of the lowest emissions profiles and one of the leading energy efficiency programs among utilities nationwide. FPL is a subsidiary of Juno Beach, Fla.-based NextEra Energy, Inc. (NYSE: NEE). For more information, visit www.FPL.com.