Florida Power & Light to repay some revolver debt with bond proceeds

By Sarah Lizee

Olympia, Wash., Feb. 26 – Florida Power & Light Co. intends to repay a portion of the debt outstanding under several revolving credit facilities in the amount of $1 billion using proceeds from a new offering, according to a 424B5 filing with the Securities and Exchange Commission.

The company said it plans to offer first mortgage bonds due March 1, 2048.

Borrowings under the facilities have expiration dates through December 2019.

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

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