FPL GROUP CAPITAL SELLS $150 MILLION OF DEBENTURES
FPL GROUP CAPITAL SELLS $150 MILLION OF DEBENTURES JUNO BEACH, Fla., July 23 /PRNewswire/ -- FPL Group Capital Inc.
today announced the sale of $150 million of debentures bearing interest at 6.50 percent per year, due July 1, 1997.
Proceeds from the sale will be added to the company's general funds and are expected to be used to repay short-term borrowings and to redeem $100 million of debentures, 10.60 percent Series, due Sept. 1, 1999. The debentures will be offered to the public at 100 percent of par to yield 6.50 percent when held to maturity. The interest cost to FPL Group Capital, after underwriting commissions, is 6.65 percent. The negotiated sale was underwritten by a group co-managed by Salomon Brothers Inc. and Goldman, Sachs & Co. A prospectus relating to these securities may be obtained from these underwriting firms. FPL Group Capital is a wholly owned subsidiary of FPL Group, Inc. (NYSE:
FPL) which provides funding for FPL Group's non-utility subsidiaries. FPL Group Inc. is a diversified holding company whose principal subsidiary is Florida Power & Light Company, one of the largest investor-owned electric utilities in the nation.
-0- 7/23/92 /CONTACT: Dale Thomas of FPL Group, 305-552-3894 or 305-552-3895/ (FPL) CO: FPL Group Inc.; FPL Group Capital Inc. ST: Florida IN: UTI SU:
AW-JB -- FL014 -- 2594 07/23/92 13:51 EDT
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|Date:||Jul 23, 1992|
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