Hunton Andrews Kurth Advises on Florida Power & Light Company’s $444 Million Qualified Replacement Property Notes

Hunton Andrews Kurth LLP advised the underwriters on an SEC-registered offering by Florida Power & Light Company (FPL) of $444,116,000 aggregate principal amount of Qualified Replacement Property Notes, Series due June 15, 2072.

FPL is a rate-regulated electric utility engaged primarily in the generation, transmission, distribution and sale of electric energy in Florida, and is the largest electric utility in the state of Florida and one of the largest electric utilities in the U.S. As of December 31, 2021, FPL had approximately 28,450 MW of net generating capacity, approximately 77,000 circuit miles of transmission and distribution lines and 696 substations. FPL provides service to its customers through integrated transmission and distribution systems that link its generation facilities to its customers. It 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 C. Friend, Brendan P. Harney, Michelle G. Chan, Reuben H. Pearlman and Jingyi “Alice” Yao. Robert McNamara and Tim Strother provided tax advice.