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FPL ANNOUNCES SALE AND REDEMPTION OF FIRST MORTGAGE BONDS

 MIAMI, May 20 /PRNewswire/ -- Florida Power & Light Company today accepted an offer for the sale of $175 million of first mortgage bonds bearing interest at 7 5/8 percent per year, and maturing on June 1, 2024.
 The new bonds will be offered to the public at 98.25 percent of par to yield 7.78 percent when held to maturity. FPL's interest cost, after underwriting commissions, is 7.82 percent.
 Proceeds from the sale will be added to FPL's general funds and are expected to be used to redeem $125 million of FPL's 10 1/4 percent Series first mortgage bonds due July 1, 2018, to repay short-term borrowings, and to fund the construction of additional electric facilities. The bond redemption is expected to occur on or about July 1, 1993.
 The sale was underwritten by Kidder Peabody & Co. Incorporated. A prospectus relating to the securities may be obtained from the underwriter.
 FPL is one of the largest investor-owned electric utilities in the nation and the principal subsidiary of FPL Group, Inc. (NYSE: FPL)
 -0- 5/20/93
 /CONTACT: Dale Thomas of Florida Power & Light, 305-552-3894 or 305-552-3895/
 (FPL)


CO: Florida Power and Light ST: Florida IN: DIV SU:

JB-AW -- FL007 -- 0734 05/20/93 11:34 EDT
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Publication:PR Newswire
Date:May 20, 1993
Words:209
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