FPL Group Capital Announces Sale of $200 Million of Debentures Guaranteed by FPL Group.JUNO BEACH, Fla. -- FPL Group Capital Inc today announced the sale of $200 million in principal amount of three-year floating rate debentures. The debentures will initially bear interest at the three-month London Interbank Offered Rate London Interbank Offered Rate A short-term interest rate often quoted as a 1,3,6-month rate for U.S.dollars. (LIBOR LIBOR See: London Interbank Offered Rate LIBOR See London interbank offered rate (LIBOR). ) plus 40 basis points and will mature on Nov. 9, 2012. Interest on the floating rate debentures will be reset quarterly. The debentures will be guaranteed by FPL Group Capital's parent company, FPL Group, Inc. (NYSE NYSE See: New York Stock Exchange :FPL). The debentures were offered to the public at 100 percent of face value. 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 these sales will be added to FPL Group Capital's general funds, which the company expects to use to repay a portion of its outstanding commercial paper obligations. A prospectus relating to these debentures may be obtained from the underwriters, Barclays Capital Inc., Deutsche Bank Securities Inc. and RBS RBS Royal Bank of Scotland RBS Role Based Security RBS Rollback Segment RBS Rare Book School (University of Virginia) RBS Rural Business Cooperative Service RBS Ribosome Binding Site (genetics) Securities Inc. FPL Group: Energy Solutions for the Next Era FPL Group, Inc. (NYSE:FPL) is a leading clean energy company with 2008 revenues of more than $16 billion, approximately 39,000 megawatts of generating capacity, and more than 15,000 employees in 27 states and Canada. Headquartered in Juno Beach, Fla., FPL Group's principal subsidiaries are NextEra Energy Resources, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , the largest generator in North America of renewable energy from the wind and sun, and Florida Power & Light Company, which serves 4.5 million customer accounts in Florida and is one of the largest rate-regulated electric utilities in the country. Through its subsidiaries, FPL Group collectively operates the third largest U.S. nuclear power generation fleet. For more information about FPL Group companies, visit these Web sites: www.FPLGroup.com, www.NextEraEnergyResources.com, www.FPL.com. |
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