JUNO BEACH, Fla., Oct. 10, 2017 /PRNewswire/ -- NextEra Energy
Capital Holdings, Inc. ("NEE Capital"), a subsidiary of NextEra
Energy, Inc. (NYSE: NEE), today announced that FPL Group Capital
Trust I will redeem on Nov. 9, 2017,
("redemption date") all of its outstanding 5 7/8 percent preferred
trust securities (NYSE:NEE_prC) (CUSIP: 302570V 207) ("preferred
trust securities") at the redemption price ("redemption price") of
$25 (the liquidation amount of each
preferred trust security) plus accumulated and unpaid distributions
from Sept. 15, 2017, to the
redemption date in the amount per preferred trust security of
0.2203125. The total liquidation amount of the preferred trust
securities is $300 million.
The preferred trust securities were issued in March 2004 by FPL Group Capital Trust I. The sole
assets of FPL Group Capital Trust I are the 5 7/8 percent junior
subordinated debentures, Series due March
15, 2044, ("debentures") of NEE Capital. NEE Capital has
elected to redeem the debentures and such redemption will result in
the redemption of the preferred trust securities on the redemption
date. The redemption of the preferred trust securities will be made
only to the extent that FPL Group Capital Trust I receives proceeds
from the contemporaneous redemption by NEE Capital on the
redemption date of all of the debentures.
On the redemption date, provided that The Bank of New York
Mellon, as paying agent, has received sufficient funds to complete
the redemption, the preferred trust securities shall become due and
payable and will cease to accrue distributions.
NextEra Energy, Inc.
NextEra Energy, Inc. (NYSE: NEE) is a leading clean energy
company with consolidated revenues of approximately $16.2 billion, approximately 45,900 megawatts of
generating capacity, which includes megawatts associated with
noncontrolling interests related to NextEra Energy Partners, LP
(NYSE: NEP), and approximately 14,700 employees in 30 states and
Canada as of year-end 2016.
Headquartered in Juno Beach,
Florida, NextEra Energy's principal subsidiaries are
Florida Power & Light Company,
which serves approximately 5 million customer accounts in
Florida and is one of the largest
rate-regulated electric utilities in the
United States, and NextEra Energy Resources, LLC, which,
together with its affiliated entities, is the world's largest
generator of renewable energy from the wind and sun. Through its
subsidiaries, NextEra Energy generates clean, emissions-free
electricity from eight commercial nuclear power units in
Florida, New Hampshire, Iowa and Wisconsin. A Fortune 200 company and included
in the S&P 100 index, NextEra Energy has been recognized often
by third parties for its efforts in sustainability, corporate
responsibility, ethics and compliance, and diversity, and has been
ranked No. 1 in the electric and gas utilities industry in
Fortune's 2017 list of "World's Most Admired Companies." For more
information about NextEra Energy companies, visit these websites:
www.NextEraEnergy.com, www.FPL.com,
www.NextEraEnergyResources.com.
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SOURCE NextEra Energy, Inc.