By Andrea Heisinger
New York, June 6 - Florida Power & Light Co. sold $250 million of 5.125% 30-year first mortgage bonds on Monday to yield Treasuries plus 87 basis points, according to an FWP filing with the Securities and Exchange Commission.
The bonds (Aa3/A/AA-) were sold at 99.91 to yield 5.131%. They have a call option at the greater of par or a make-whole of 15 bps over Treasuries until Dec. 1, 2040, and after that date at par.
Bookrunners were BNP Paribas Securities Corp., BNY Mellon Capital Markets LLC, J.P. Morgan Securities LLC and Mitsubishi UFJ (USA) Inc.
Co-managers were Daiwa Capital Markets America Inc., Lloyds Securities Inc. and SG Americas Securities LLC.
Proceeds will be added to the company's general funds and used to repay a portion of outstanding commercial paper and for general corporate purposes.
The electric subsidiary of NextEra Energy, Inc. is based in Juno Beach, Fla.
| Issuer: | Florida Power & Light Co.
|
| Issue: | First mortgage bonds
|
| Amount: | $250 million
|
| Maturity: | June 1, 2041
|
| Bookrunners: | BNP Paribas Securities Corp., BNY Mellon Capital Markets LLC, J.P. Morgan Securities LLC, Mitsubishi UFJ Securities (USA) Inc.
|
| Co-managers: | Daiwa Capital Markets America Inc., Lloyds Securities Inc., SG Americas Securities LLC
|
| Coupon: | 5.125%
|
| Price: | 99.91
|
| Yield: | 5.131%
|
| Spread: | Treasuries plus 87 bps
|
| Call: | At greater of par or make-whole at Treasuries plus 15 bps before Dec. 1, 2040, and after at par
|
| Trade date: | June 6
|
| Settlement date: | June 10
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A
|
| Fitch: AA-
|
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