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FPL ANNOUNCES TENDER OFFER FOR $340 MILLION OF BONDS

 MIAMI, Sept. 16 /PRNewswire/ -- Florida Power & Light Company (FPL), announced today it will seek to buy back $215 million of first mortgage bonds and secured medium-term notes by way of a fixed spread tender offer, as well as $125 million of first mortgage bonds by way of a fixed price tender offer.
 Both offers commence Sept. 16 and expire on Sept. 23 at 5 p.m. EDT, unless extended by FPL. Salomon Brothers Inc. is the exclusive dealer manager for the tender offers.
 The fixed spread tender offer will be conducted for any and all of the following $215 million of outstanding issues.
 First Mortgage Bonds Amount Outstanding
 9 3/8 percent Series,
 due July 1, 2019 $150 million
 Medium -Term Notes, Series A
 9.45 percent, due Oct. 15, 2019 $10 million
 9.40 percent, due Oct. 15, 2009 $5 million
 8.84 percent, due Oct. 18, 1999 $10 million
 9.40 percent, due Nov. 1, 2019 $10 million
 8.80 percent, due Jan. 6, 1998 $5 million
 9.28 percent, due Nov. 1, 2017 $15 million
 9.33 percent, due Dec. 9, 2019 $10 million
 The purchase price for these securities will be determined by using the yield to maturity of the reference U. S. Treasury Note for each issue at the time the holder agrees to tender its bonds, plus a fixed spread of 20 basis points. In addition, FPL will pay accrued interest to, but not including, the date of settlement.
 Concurrently, a fixed price tender offer will be conducted at a price of 112 percent for any and all of the $125 million of 9 5/8 percent first mortgage bonds due Nov. 1, 2000.
 FPL is one of the largest investor-owned utilities in the nation and is the principal subsidiary of FPL Group, Inc. (NYSE: FPL).
 -0- 9/16/93
 /CONTACT: Scott Dudley of Florida Power & Light, 407-694-4697/
 (FPL)


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

RC-JB -- FL006 -- 2660 09/16/93 11:50 EDT
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Publication:PR Newswire
Date:Sep 16, 1993
Words:334
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