FPL Group Sells Debentures

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FPL Group Capital Inc. has sold $500 million principal amount of its 10-year debentures. The debentures bear interest at 6% per year and will mature March 1, 2019.

The debentures are guaranteed by FPL Group Capital's parent company, FPL Group Inc., and were offered to the public at 99.957% of par to yield 6.006 % when held to maturity.

Net proceeds from the sale will be added to FPL Group Capital's general funds, and FPL Group Capital expects to use its general funds to repay a portion of commercial paper issued to fund investments by FPL Group Capital in independent power projects, including renewable power projects.

The sale was underwritten by a group that includes Barclays Capital Inc., BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC and Scotia Capital (USA) Inc. as lead managers. The co-managers are Comerica Securities Inc., Daiwa Securities America Inc., KeyBanc Capital Markets Inc., UniCredit Capital Markets Inc. and U.S. Bancorp Investments Inc.

A prospectus relating to these debentures may be obtained from Barclays Capital Inc., BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC and Scotia Capital (USA) Inc.

SOURCE: FPL Group

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