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

Hunton Andrews Kurth LLP advised the underwriters on two SEC-registered offerings by Florida Power & Light Company (FPL) of (1) $2 billion aggregate principal, consisting of (i) $750 million aggregate principal amount of First Mortgage Bonds, 4.40% Series due May 15, 2028; (ii) $500 million aggregate principal amount of First Mortgage Bonds, 4.625% Series due May 15, 2030; and (iii) $750 million aggregate principal amount of First Mortgage Bonds due May 15, 2033; and (2) $500 million aggregate principal amount of 4.45% Fixed Rate Notes, Series due May 15, 2026.

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, 2022, FPL had approximately 32,100 MW of net generating capacity, approximately 88,000 circuit miles of transmission and distribution lines and 871 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 12 million people through more than 5.8 million customer accounts. FPL’s service areas cover most of the east and lower west coasts of Florida and are in nine counties throughout northwest Florida.

The Hunton Andrews Kurth team included Steven Friend, Brendan P. Harney, Michelle G. Chan, Thomas C. White and Jingyi “Alice” Yao. Robert McNamara and Drew Hermiller provided tax advice.