Hunton & Williams Advises on Florida Power & Light Company $500 million first mortgage bonds offering

Hunton & Williams LLP advised BNP Paribas Securities Corp., BNY Mellon Capital Markets, LLC, Credit Agricole Securities (USA) Inc., Deutsche Bank Securities Inc., Scotia Capital (USA) Inc. and U.S. Bancorp Investments, Inc., as joint book-running managers in an offering of $500 million aggregate principal amount of first mortgage bonds due 2024 by Florida Power & Light Company (“FPL”). The transaction priced at one of the lowest spreads for a ten year security since 2010.

FPL is a rate-regulated electric utility. It is the largest electric utility in the state of Florida and one of the largest electric utilities in the U.S. based on retail megawatt hour sales. FPL supplies electric service throughout most of the east and lower west coasts of Florida, serving more than 9 million people. FPL is a wholly-owned subsidiary of NextEra Energy, Inc.

The Hunton & Williams LLP team included Dee Ann Dorsey and Adam O’Brian.