Hunton Andrews Kurth LLP advised the underwriters on a SEC-registered offering by Florida Power & Light Company (FPL) of $2 billion aggregate principal amount of first mortgage bonds, consisting of (i) $350 million aggregate principal amount of First Mortgage Bonds, 5.30% Series due June 15, 2034, (ii) $950 million aggregate principal amount of First Mortgage Bonds, 5.70% Series due March 15, 2055, and (iii) $700 million aggregate principal amount of First Mortgage Bonds, 5.80% Series due March 15, 2065. The offering of the First Mortgage Bonds, 5.30% Series due June 15, 2034 constituted a reopening of FPL’s $750,000,000 aggregate principal amount of First Mortgage Bonds, 5.30% Series due June 15, 2034 originally issued on June 3, 2024.

FPL 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 US. At December 31, 2024, FPL had approximately 35,052 MW of net generating capacity, approximately 91,000 circuit miles of transmission and distribution lines and 921 substations. FPL provides service to its customers through integrated transmission and distribution systems that link its generation facilities to its customers. FPL serves more than 12 million people through more than 6 million customer accounts. FPL’s service areas cover most of the east and lower west coasts of Florida and are in 8 counties throughout northwest Florida.

The Hunton team included Steven C. Friend, Michelle G. Chan,  Jingyi “Alice” Yao and Gabrielle Kraushaar. Robert McNamara, William Freeman, Caitlin Scipioni and Katherine Gallagher provided tax advice.