Florida Power & Light Co. on June 15 sold $94.1 million of its floating-rate notes series due 2068.
The notes will bear an interest rate equal to the three-month London Interbank Offered Rate minus 0.30%. Interest on the notes will be payable quarterly in arrears starting Sept. 15.
The NextEra Energy Inc. subsidiary will add the net proceeds from the sale of the notes to its general funds to be used for general corporate purposes, including repaying a portion of Florida Power & Light's outstanding commercial paper obligations.
The joint book-running managers for the transaction were UBS Securities LLC, Morgan Stanley & Co. LLC, JP Morgan Securities LLC, Deutsche Bank Securities Inc., Wells Fargo Securities LLC, RBC Capital Markets LLC and Merrill Lynch Pierce Fenner & Smith Inc.