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FPL Group Capital announces sale of $500 million of debentures

FPL Group Capital Inc today announced the sale of $500 million principal amount of its 10-year debentures.  The debentures bear interest at 6.00 percent per year and will mature March 1, 2019.  The debentures are guaranteed by FPL Group Capital’s parent company, FPL Group, Inc. (NYSE: FPL).

The debentures were offered to the public at 99.957 percent of par to yield 6.006 percent when held to maturity.

Net proceeds from the sale will be added to FPL Group Capital’s general funds, and FPL Group Capital expects to use its general funds to repay a portion of commercial paper issued to fund investments by FPL Group Capital in independent power projects, including renewable power projects.

The sale was underwritten by a group that includes Barclays Capital Inc., BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC, and Scotia Capital (USA) Inc. as lead managers.  The co-managers are Comerica Securities, Inc., Daiwa Securities America Inc., KeyBanc Capital Markets Inc., UniCredit Capital Markets, Inc., and U.S. Bancorp Investments, Inc.  A prospectus relating to these debentures may be obtained from Barclays Capital Inc., BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC, and Scotia Capital (USA) Inc.

FPL Group: Energy Solutions for the Next Era
FPL Group (NYSE: FPL) is a leading clean energy company with 2008 revenues of more than $16 billion, approximately 39,000 megawatts of generating capacity, and more than 15,000 employees in 27 states and Canada. Headquartered in Juno Beach, Fla., FPL Group’s principal subsidiaries are NextEra Energy Resources, LLC, the largest generator in North America of renewable energy from the wind and sun, and Florida Power & Light Company, which serves 4.5 million customer accounts in Florida and is one of the largest rate-regulated electric utilities in the country.  Through its subsidiaries, FPL Group collectively operates the third largest U.S. nuclear power generation fleet. For more information about FPL Group companies, visit these Web

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