News & Analysis » US
FPL Group Capital Sells $400 Mln Of Debentures - Quick Facts
(RTTNews) - FPL Group Capital Inc, a subsidiary of NextEra Energy, Inc. (NEE), said Friday that it has sold $400 million in principal amount debentures.
The debentures bear interest at 2.60% per year and will mature Sept. 1, 2015. The debentures will be guaranteed by NextEra Energy.
The debentures were offered to the public at 99.967% of face value to yield 2.607 percent when held to maturity.
Net proceeds from the sales will be added to FPL Group Capital's general funds, which the company expects to use to repay all or a portion of its debt under certain term-loan agreements. After repaying all or a portion of that debt, FPL Group Capital expects to use its general funds for other general corporate purposes, including the repayment of a portion of its outstanding commercial paper.
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