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FPL ANNOUNCES SALE AND REDEMPTION OF FIRST MORTGAGE BONDS

 MIAMI, June 23 /PRNewswire/ -- Florida Power & Light Company today accepted an offer for the sale of $230 million of first mortgage bonds bearing interest at 5 1/2 percent per year, and maturing on July 1, 1999.
 The new bonds will be offered to the public at 98.75 percent of par to yield 5.75 percent when held to maturity. FPL's interest cost, after underwriting commissions, is 5.82 percent.
 Proceeds from the sale will be added to FPL's general funds and are expected to be used, along with other funds, to redeem three series of FPL first mortgage bonds: $80 million of 7 5/8 percent Series due Jan. 1, 2001; $100 million of 7 3/4 percent Series due Sept. 1, 2001; and $50 million of 7 5/8 percent Series due June 1, 2002. The bond redemptions are expected to occur on or about July 27, 1993.
 The sale was underwritten by Merrill Lynch & Co. 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-
 6/23/93 /CONTACT: Kathy Scott of Florida Power & Light Company, 305-552-3894 or 305-552-3895/
 (FPL)


CO: Florida Power & Light Company ST: Florida IN: UTI SU:

RC-AW -- FL006 -- 4986 06/23/93 11:48 EDT
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Publication:PR Newswire
Date:Jun 23, 1993
Words:228
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