Hunton Advises on Florida Power & Light Company First Mortgage Bond Offering

Hunton Andrews Kurth LLP advised the underwriters on an SEC-registered offering by Florida Power & Light Company (FPL) of $800 million aggregate principal amount of First Mortgage Bonds, 3.15% Series due October 1, 2049.

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, 2018, FPL had approximately 24,500 MW of net generating capacity, approximately 75,200 circuit miles of transmission and distribution lines and approximately 645 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, 2018, FPL served approximately ten million people through nearly 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, Patrick Jamieson, Michelle Chan and Shelby Stanton. Robert McNamara provided tax advice.