Hunton Andrews Kurth LLP Advises on Florida Power & Light Company $174.7 Million Qualified Replacement Property Notes

Hunton Andrews Kurth LLP advised the underwriters on an SEC-registered offering by Florida Power & Light Company (FPL) of $174.7 million aggregate principal amount of Qualified Replacement Property Notes, Series due March 13, 2070.

FPL was incorporated under the laws of Florida in 1925 and 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, 2019, FPL had approximately 27,400 MW of net generating capacity, approximately 75,400 circuit miles of transmission and distribution lines and approximately 661 substations. FPL provides service to its customers through an integrated transmission and distribution system that links its generation facilities to its customers. At December 31, 2019, FPL served more than ten million people through more than five million customer accounts. FPL’s service territory covers most of the east and lower west coasts of Florida.

The Hunton Andrews Kurth team included Steve Friend, Brendan P. Harney and Shelby Stanton. Robert McNamara and Tim Strother provided tax advice.