Florida Power & Light Co.’s $1.2 Billion First Mortgage Bonds

Hunton Andrews Kurth advised the underwriters on the deal.

Florida Power & Light Company (FPL) announced its offering of $1.2 billion aggregate principal amount of First Mortgage Bonds, 2.875% Series due December 4, 2051.

FPL is a rate-regulated electric utility engaged primarily in the generation, transmission, distribution and sale of electric energy in Florida. FPL is the largest electric utility in the state of Florida and one of the largest electric utilities in the U.S. At December 31, 2020, FPL had approximately 28,400 MW of net generating capacity, approximately 76,200 circuit miles of transmission and distribution lines and 673 substations. FPL provides service to its customers through integrated transmission and distribution systems that link its generation facilities to its customers. FPL serves more than 11 million people through more than 5.6 million customer accounts. FPL’s service areas cover most of the east and lower west coasts of Florida and are in eight counties throughout northwest Florida.

The Underwriters included: Citigroup, Fifth Third Securities, RBC Capital Markets, Regions Securities LLC, US Bancorp, Wells Fargo Securities, Barclays  , BofA Securities, BNY Mellon Capital Markets, LLC,  Goldman Sachs & Co. LLC, KeyBanc Capital Markets, Mizuho Securities,PNC Capital Markets LLC, Scotiabank, TD Securities, DNB Markets    ?    ?   , DZ Financial Markets LLC, HSBC, ICBC Standard Bank Plc, nabSecurities, LLC, Wolfe Capital Markets and Advisory, Drexel Hamilton, MFR Securities, Inc. and R. Seelaus & Co., LLC.

The Hunton Andrews Kurth team included Steven Friend (Picture), Brendan P. Harney, Michelle G. Chan and Reuben H. Pearlman. Robert McNamara and Tim Strother provided tax advice.



Involved fees earner: Michelle Chan – Hunton Andrews Kurth LLP; Steven Friend – Hunton Andrews Kurth LLP; Brendan Harney – Hunton Andrews Kurth LLP; Robert McNamara – Hunton Andrews Kurth LLP; Reuben Pearlman – Hunton Andrews Kurth LLP; Tim Strother – Hunton Andrews Kurth LLP;

Law Firms: Hunton Andrews Kurth LLP;

Clients: Bank of America Securities; Barclays Bank; BNY Mellon Capital Markets; Citigroup Inc.; DNB Markets; Drexel Hamilton; DZ Financial Markets; Fifth Third Securities, Inc.; Goldman Sachs & Co.; HSBC; ICBC Standard Bank; KeyBanc Capital Markets; MFR Securities, Inc.; Mizuho Securities; Nabsecurities, LLC; PNC Capital Markets LLC; R. Seelaus & Co.; RBC Capital Markets; Regions Securities LLC; Scotiabank; TD Securities; US Bancorp; Wells Fargo Securities; Wolfe Capital Markets and Advisory;

Martina Bellini

Author: Martina Bellini