Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers F > Headlines for Florida Power & Light Co. > News item |
Florida Power & Light talks $1 billion floaters due 2023 to yield SOFR plus 50 bps area
By Rebecca Melvin and Cristal Cody
Concord, N.H., May 5 – Florida Power & Light Co. plans to sell $1 billion of floating-rate notes due May 10, 2023 that are talked early Wednesday to yield in the SOFR plus 50 basis points area, according to a market source.
The notes are callable on or after Nov. 10, 2021 at par plus accrued and unpaid interest.
BNP Paribas Securities Corp., BNY Mellon Capital Markets LLC, J.P. Morgan Securities LLC and PNC Capital Markets LLC are the joint bookrunning managers of the deal. Cowen and Co. LLC, DNB Markets Inc. and HSBC Securities (USA) Inc. are the co-managers, and junior co-managers are Cabrera Capital Markets LLC and Drexel Hamilton LLC.
Proceeds will be used for general corporate purposes, including repayment of a portion of the company’s outstanding commercial paper.
Florida Power & Light is a Juno Beach, Fla.-based electric utility.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.