FPL Announces Sale of $600 Million of First Mortgage Bonds.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. -- Florida Power & Light Company today announced the sale of $600 million principal amount of 30-year first mortgage bonds bearing interest at 5.95 percent per year and maturing on February 1, 2038. The first mortgage bonds will be offered to the public at 99.456 percent of par to yield 5.989 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 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 Calyon Securities (USA) Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. Incorporated and Wachovia Capital Markets, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control as joint book-running managers. The co-managers are BNY BNY Bank of New York Capital Markets, Inc., Deutsche Bank Securities Inc., HSBC HSBC Hongkong and Shanghai Banking Corporation HSBC Humane Society of Broward County (Florida) HSBC Humane Society of Bay County (Bay County, Michigan) Securities (USA) Inc., KeyBanc Capital Markets Inc., Lazard Capital Markets Lazard Capital Markets is a New York-based investment bank founded in 2005 in a spin-off from its parent Lazard. Lazard Capital Markets focuses its activities on equity research, sales and trading; fixed income and convertible bond sales and trading; and securities LLC and Wells Fargo Securities, LLC. A prospectus relating to these first mortgage bonds may be obtained from Calyon Securities (USA) Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. Incorporated and Wachovia Capital Markets, LLC. 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. With annual revenues in 2006 of $15.7 billion and a growing presence in 27 states, FPL Group is widely recognized as one of the country's premier power companies. Florida Power & Light Company serves 4.5 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. Note to Editors: High-resolution logos and executive head shots are available for download at http://www.fpl.com/news/logos.shtml. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion