8-KOther EventsExhibits & Filings

NEXTERA ENERGY INC 8-K Report, Corporate Update (May 18, 2023)

Filed May 18, 2023For Securities:NEENEE-PNNEE-PSNEE-PTNEE-PWNEE-PVNEE-PU

Summary

NextEra Energy Inc.'s subsidiary, Florida Power & Light Company (FPL), has successfully completed a significant debt offering. On May 17, 2023, FPL issued $2.0 billion in aggregate principal amount of First Mortgage Bonds across three series with varying maturities and coupon rates (4.40% due 2028, 4.625% due 2030, and 4.80% due 2033). Additionally, FPL issued $500 million of 4.45% Notes due May 15, 2026. This issuance represents a strategic move to raise substantial capital, likely for ongoing operations, capital expenditures, or refinancing existing debt. Investors should note that these are unsecured debt obligations of FPL and are registered under the Securities Act of 1933. The filing primarily serves to report associated legal opinions and consents as exhibits, indicating the completion and regulatory compliance of these offerings.

Key Highlights

  • 1Florida Power & Light Company (FPL), a subsidiary of NextEra Energy Inc., raised $2.0 billion through the issuance of First Mortgage Bonds.
  • 2The bonds were issued in three tranches: $750 million at 4.40% (due 2028), $500 million at 4.625% (due 2030), and $750 million at 4.80% (due 2033).
  • 3FPL also issued $500 million in Notes with a 4.45% coupon rate, maturing on May 15, 2026.
  • 4The total capital raised from these offerings amounts to $2.5 billion.
  • 5These offerings were registered under the Securities Act of 1933.
  • 6The Form 8-K filing primarily includes legal opinions and consents related to the bond and note issuances.

Frequently Asked Questions

This 8-K filing is primarily to report, as exhibits, certain legal documents, specifically the opinions and consents from counsel, related to the recent debt offerings by Florida Power & Light Company (FPL).

Florida Power & Light Company raised a total of $2.5 billion. This includes $2.0 billion from the First Mortgage Bonds and $500 million from the Notes.

The First Mortgage Bonds were issued in three series: $750 million of 4.40% Series due May 15, 2028; $500 million of 4.625% Series due May 15, 2030; and $750 million of 4.80% Series due May 15, 2033.

The filing indicates these are debt obligations of Florida Power & Light Company. While FPL is a subsidiary of NextEra Energy Inc., the filing does not explicitly state a guarantee from the parent company. Investors should refer to the specific offering documents for details on guarantees or the absence thereof.