FPL Group Capital Inc. has announced the sale of $400 million in principal amount debentures. The debentures bear interest at 2.6% per year and will mature Sept. 1, 2015. The debentures will be guaranteed by FPL Group Capital's parent company, NextEra Energy Inc.
The debentures were offered to the public at 99.967% of face value to yield 2.607% 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 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.
SOURCE: NextEra Energy Inc.