News Releases

Read news releases from NextEra Energy, Florida Power & Light Company and NextEra Energy Resources.

FPL Group Capital announces sale of $300 million of preferred trust securities

JUNO BEACH, Fla.----FPL Group Capital Inc. today announced the sale of a total of 12 million 5-7/8 percent preferred trust securities of FPL Group Capital Trust I having an aggregate liquidation amount of $300 million. FPL Group Capital Trust I will use the proceeds from this sale to purchase $300 million principal amount of junior subordinated debentures of FPL Group Capital. The preferred trust securities and the junior subordinated debentures will be guaranteed by FPL Group, Inc. (NYSE:FPL).

The preferred trust securities due March 15, 2044 will be sold to the public at a price of $25 per preferred trust security.

Net proceeds from the sale of FPL Group Capital's junior subordinated debentures will be added to FPL Group Capital's general funds and are expected to be used to repay a portion of commercial paper issued to fund investments by FPL Group Capital in independent power projects.

The sales will be underwritten by Citigroup, Merrill Lynch & Co., Morgan Stanley and Wachovia Securities as joint book-running managers, and Credit Suisse First Boston and Lehman Brothers as co-managers.

FPL Group, with annual revenues of more than $9 billion, is nationally known as a high-quality, efficient, and customer-driven organization focused on energy-related products and services. With a growing presence in 26 states, it is widely recognized as one of the country's premier power companies. Its principal subsidiary, Florida Power & Light Company, serves more than 4 million customer accounts in Florida. FPL Energy, LLC, an FPL Group energy-generating subsidiary, is a leader in producing electricity from clean and renewable fuels. Additional information is available on the Internet at www.FPLGroup.comwww.FPL.com andwww.FPLEnergy.com.

A registration statement related to this offering has been filed with the Securities and Exchange Commission and has become effective. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such jurisdiction. The offering may be made only by means of a prospectus and the related prospectus supplement, copies of which may be obtained from the joint book-running managers.

Featured Stories
Aug 20, 2020

In Morrow County, Oregon, construction is well underway on the wind portion of one of NextEra Energy Resources’ first trifecta renewable energy projects.

Apr 20, 2020

All across the country, people are fighting the coronavirus pandemic. We are all in this together. Mark Prohaska, a NextEra Energy employee, jumped into action when he saw a way to help.

Journalists can reach a NextEra Energy spokesperson 24 hours a day, 7 days a week.

561-694-4442

Media.Relations@NextEraEnergy.com

Subscribe

Sign up to receive press release email alerts.

Sign Up