Hunton & Williams LLP advised the underwriters on an SEC-registered offering by Florida Power & Light Company (FPL) of $1 billion aggregate principal amount of First Mortgage Bonds, 3.95% Series due March 1, 2048.
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, 2017, FPL had approximately 26,600 MW of net generating capacity, approximately 75,000 circuit miles of transmission and distribution lines and approximately 620 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, 2017, 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 & Williams team included Steve Friend, Patrick Jamieson, Soyung Kang and Paloma Luz. Cary Tolley and Anna Page provided tax advice.