FPL Announces Sale of $500 Million of First Mortgage Bonds.Business Editors JUNO BEACH This article is about the beach codenamed in WWII. For other uses, see Juno Beach (disambiguation) Juno Beach was one of the landing sites for Allied invaders on the coast of Normandy during D-Day. It was situated between Sword Beach and Gold Beach. , Fla.--(BUSINESS WIRE)--April 1, 2003 Florida Power & Light Company today announced the sale of $500 million principal amount of 31-year first mortgage bonds bearing interest at 5.625 percent per year and maturing on April 1, 2034. The first mortgage bonds will be offered to the public at 99.579 percent of par to yield 5.654 percent when held to maturity. Net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). from the sale will be added to Florida Power & Light Company's general funds and are expected to be used to repay Florida Power & Light Company's short-term borrowings and for other corporate purposes. The sale was underwritten by a group that includes Banc of America Securities LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and Wachovia Securities Wachovia Securities, located in Richmond, Virginia (soon to be moved to St. Louis), is the third largest brokerage firm in the United States as of 2006 with $689 billion retail client assets under management. It is a subsidiary of Wachovia Corporation. , Inc., as lead managers. The co-managers are J.P. Morgan Securities Inc., Salomon Smith Barney Inc., Mellon Financial Markets, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Scotia Capital (USA) Inc., and SunTrust Capital Markets, Inc. A prospectus relating to these first mortgage bonds may be obtained from the underwriters. Florida Power & Light Company is the principal subsidiary of FPL Group, Inc. (NYSE NYSE See: New York Stock Exchange :FPL), nationally known as a high quality, efficient and customer-driven organization focused on energy-related products and services. Florida Power & Light Company serves approximately 4 million customer accounts in Florida. |
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