Hunton Andrews Kurth Advises on Florida Power & Light Company’s $2.5 Billion First Mortgage Bonds and Floating Rate Notes

Hunton Andrews Kurth LLP advised the underwriters on two SEC-registered offerings by Florida Power & Light Company (FPL) of $2.5 billion aggregate principal, consisting of (i) $1.5 billion aggregate principal amount of First Mortgage Bonds, 2.45% Series due February 3, 2032 and (ii) $1 billion aggregate principal amount of Floating Rate Notes, Series due January 12, 2024. 

FPL is a rate-regulated electric utility engaged primarily in the generation, transmission, distribution and sale of electric energy in Florida. FPL is the largest electric utility in the state of Florida and one of the largest electric utilities in the U.S. At December 31, 2020, FPL had approximately 28,400 MW of net generating capacity, approximately 76,200 circuit miles of transmission and distribution lines and 673 substations. FPL provides service to its customers through integrated transmission and distribution systems that link its generation facilities to its customers. FPL serves more than 11 million people through more than 5.6 million customer accounts. FPL’s service areas cover most of the east and lower west coasts of Florida and are in eight counties throughout northwest Florida.

The Hunton Andrews Kurth team included Steven Friend, Brendan P. Harney, Michelle G. Chan and Reuben H. Pearlman. Robert McNamara and Tim Strother provided tax advice.