FPL Group, Inc. Closes $6.5 Billion of New Credit Facilities.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. -- FPL Group, Inc. (NYSE NYSE See: New York Stock Exchange :FPL) announced today the completion and closing on $6.5 billion of new credit facilities credit facilities npl → facilidades fpl de crédito credit facilities npl → facilités fpl de paiement credit facilities , effective April 3, 2007, of which $4 billion is dedicated to FPL Group Capital Inc. with the remaining $2.5 billion allocated to Florida Power & Light Company. Moray Moray, alternate spelling of Murray Moray. For Scottish names spelled thus, use Murray. Moray, council area and former county, Scotland Moray (mûr`ē) Dewhurst, chief financial officer for FPL Group, said, "I am pleased to announce the closing of our new five year corporate credit facility. With the completion of this facility we have $6.5 billion of credit lines to support the daily operations of the company. In addition, a strong balance sheet and ample liquidity are required to meet the growth initiatives for the company over the coming years. I am particularly encouraged by the support of 41 financial institutions in our credit facility and believe this strong participation is representative the markets' reaction to the strategic direction of the company." J.P. Morgan Securities Inc. and Wachovia Capital Markets, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control were lead arrangers Lead arranger The senior tier of arranger on the $4 billion FPL Group Capital Inc. transaction with Citigroup Global Markets Inc. and Banc of America Securities LLC acting as lead arrangers on the $2.5 billion Florida Power & Light Company facility. FPL Group, with annual revenues of nearly $16 billion, is nationally known as a high quality, efficient, and customer-driven organization focused on energy-related products and services. With a growing presence in 26 states, it is widely recognized as one of the country's premier power companies. Its principal subsidiary, Florida Power & Light Company, serves 4.4 million customer accounts in Florida. FPL Energy, LLC, an FPL Group competitive energy subsidiary, is a leader in producing electricity from clean and renewable fuels Renewable fuels are alternative fuel sources such as ethanol, biodiesel (e.g. soy, vegetable oils, animal fats, or recycled restaurant greases) or hydrogen, in contrast to non-renewable fuels such as natural gas, LPG (propane). . Additional information is available on the Internet at www.FPLGroup.com, www.FPL.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. |
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