BB&T Capital Markets Serves as Co-Manager for Florida Power’s $600 Million Offering of First Mortgage Bonds
On November 16, 2015, BB&T Capital Markets served as a co-manager for an offering by Florida Power & Light Co. of $600 million of 3.125% first mortgage bonds due 2025. Proceeds from the offering are being used for general corporate purposes, including to repay short-term borrowings, to repay, redeem or repurchase outstanding debt and to finance the acquisition or construction of additional electric facilities and capital improvements to and maintenance of existing facilities.
About the Companies
Florida Power & Light is a wholly owned subsidiary of NextEra Energy, Inc. NextEra Energy, Inc., through its subsidiaries, generates, transmits, and distributes electric energy in the United States and Canada. The company generates electricity from gas, oil, solar, coal, petroleum coke, nuclear, and wind sources. As of December 31, 2014, it served approximately 9 million people through approximately 4.7 million customer accounts in the east and lower west coasts of Florida. The company had approximately 44,900 megawatt of generating capacity. It also leases fiber-optic network capacity and dark fiber to telephone, wireless, Internet, and other telecommunications companies. The company was formerly known as FPL Group, Inc. and changed its name to NextEra Energy, Inc. in 2010. NextEra Energy, Inc. was founded in 1984 and is headquartered in Juno Beach, Florida.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.