JUNO BEACH, Fla. – FPL Group Capital Inc today announced the sale of $200 million in principal amount of three-year floating rate debentures. The debentures will initially bear interest at the three-month London Interbank Offered Rate (LIBOR) plus 40 basis points and will mature on Nov. 9, 2012. Interest on the floating rate debentures will be reset quarterly. 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 100 percent of face value. 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, Barclays Capital Inc., Deutsche Bank Securities Inc. and RBS Securities Inc.
FPL Group: Energy Solutions for the Next Era
FPL Group, Inc. (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 sites: www.FPLGroup.com, www.NextEraEnergyResources.com, www.FPL.com.