New Issue: Florida Power prices $145.1 million 50-year floating-rate notes at Libor minus 30 bps

By Cristal Cody

Tupelo, Miss., Aug. 19 – Florida Power & Light Co. priced $145,106,000 of floating-rate notes due Aug. 24, 2070 on Wednesday at par to yield Libor minus 30 basis points, according to an FWP filing with the Securities and Exchange Commission.

UBS Securities LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and RBC Capital Markets LLC were the bookrunners.

Proceeds will be used for general corporate purposes.

Florida Power & Light is a Juno Beach, Fla.-based electric utility.

Issuer:	Florida Power & Light Co.
Amount:	$145,106,000
Description:	Floating-rate notes
Maturity:	Aug. 24, 2070
Bookrunners:	UBS Securities LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and RBC Capital Markets LLC
Coupon:	Libor minus 30 bps
Price:	Par
Yield:	Libor minus 30 bps
Call features:	On or after Aug. 24, 2050 at par plus a premium and semiannually at par beginning on Aug. 24, 2060
Put option:	Aug. 24, 2021 and semiannually through Aug. 24, 2031 and thereafter on Aug. 24 of every subsequent second year through Aug. 24, 2067
Trade date:	Aug. 19
Settlement date:	Aug. 24
Ratings:	Moody’s: A1
	S&P: A
Distribution:	SEC registered

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.