FPL Group Capital Inc. today announced the sale of $250 million in principal amount of debentures bearing interest at 2.55 percent per year and maturing on November 15, 2013. The debentures will be guaranteed by FPL Group Capital’s parent company, FPL Group, Inc. (NYSE:FPL).
The debentures were offered to the public at 99.934 percent of face value to yield 2.57 percent when held to maturity. Net proceeds from these sales will be added to FPL Group Capital’s general funds, which the company expects to use to repay a portion of its outstanding commercial paper obligations.
A prospectus relating to these debentures may be obtained from the underwriters, Banc of America Securities LLC, Barclays Capital Inc., Citigroup Global Markets Inc., and J.P. Morgan Securities Inc.
FPL Group: Energy Solutions for the Next EraFPL Group, Inc. (NYSE:FPL) is a leading clean energy company with 2009 revenues of more than $15 billion, nearly 43,000 megawatts of generating capacity, and more than 15,000 employees in 28 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 approximately 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 websites: www.FPLGroup.com, www.NextEraEnergyResources.com, www.FPL.com.