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NextEra: FPL Group Capital Trust I plans to redeem 5 7/8% preferreds
By Wendy Van Sickle
Columbus, Ohio, Oct. 10 – NextEra Energy Capital Holdings, Inc. said FPL Group Capital Trust I will redeem all $300 million of its 5 7/8% preferred trust securities on Nov. 9.
The preferreds will be redeemed at the liquidation amount of $25.00 plus accrued distributions from Sept. 15 for a total amount of $25.2203125 per security.
The preferred trust securities were issued in March 2004 by FPL Group Capital Trust I. The sole assets of trust are the 5 7/8% junior subordinated debentures due March 15, 2044.
The redemption is contingent on FPL receiving proceeds from the contemporaneous redemption by NEE Capital of all the debentures.
Bank of New York Mellon is the paying agent.
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