FPL Issues $1.75 Billion in Bonds

TL;DR

FPL just dropped $1.75B in new bonds to fund operations. 💰

AI Summary

Florida Power & Light Company (FPL), a subsidiary of NextEra Energy Inc., announced on November 20, 2025, the issuance of $1.0 billion in aggregate principal amount of its 7.299% Series 2025 A First Mortgage Bonds due November 20, 2055. The company also issued $750 million in aggregate principal amount of its 7.234% Series 2025 B First Mortgage Bonds due November 20, 2035. These issuances are part of FPL's ongoing financing activities.

Why It Matters

This bond issuance provides Florida Power & Light with significant capital for its operations and future investments, impacting its financial structure and potentially its cost of capital.

Risk Assessment

Risk Level: low — The filing details routine debt issuance by a large, established utility company, which is a common financing activity.

Key Numbers

• $1.75B — Total Bond Issuance (Aggregate principal amount of Series A and Series B bonds issued by FPL.)
• 7.299% — Interest Rate (Series A) (Coupon rate for the 2055 maturity bonds.)
• 7.234% — Interest Rate (Series B) (Coupon rate for the 2035 maturity bonds.)

Key Players & Entities

• Florida Power & Light Company (company) — Issuer of the bonds
• NextEra Energy Inc. (company) — Parent company of Florida Power & Light
• 7.299% Series 2025 A First Mortgage Bonds (dollar_amount) — Debt instrument issued
• November 20, 2055 (date) — Maturity date of Series A bonds
• 7.234% Series 2025 B First Mortgage Bonds (dollar_amount) — Debt instrument issued
• November 20, 2035 (date) — Maturity date of Series B bonds
• $1.0 billion (dollar_amount) — Principal amount of Series A bonds
• $750 million (dollar_amount) — Principal amount of Series B bonds

FAQ

Key Financial Figures

• $0.01 — red NextEra Energy, Inc. Common Stock, $0.01 Par Value NEE New York Stock Exchange
• $945 million — es in annualized retail base revenues: $945 million beginning January 1, 2026; and $705 mi
• $705 million — million beginning January 1, 2026; and $705 million beginning January 1, 2027. In addition
• $1.155 billion — nt that would be comprised of: 1) up to $1.155 billion of certain deferred tax liabilities rel
• $5 — at produces a surcharge of no more than $5 for every 1,000 kilowatt-hours of usage

Filing Documents

• nee-20251120.htm (8-K) — 49KB
• nee-20251120_g1.jpg (GRAPHIC) — 290KB
• nee-20251120_g2.jpg (GRAPHIC) — 56KB
• 0000753308-25-000060.txt ( ) — 1050KB
• nee-20251120.xsd (EX-101.SCH) — 3KB
• nee-20251120_def.xml (EX-101.DEF) — 18KB
• nee-20251120_lab.xml (EX-101.LAB) — 32KB
• nee-20251120_pre.xml (EX-101.PRE) — 18KB
• nee-20251120_htm.xml (XML) — 6KB

01 Other Events

Item 8.01 Other Events On November 20, 2025, the Florida Public Service Commission (FPSC) voted to approve a stipulation and settlement agreement between Florida Power & Light Company (FPL) and ten of the 13 intervenor groups in FPL's base rate proceeding (2025 rate agreement), which resolves all matters in FPL's base rate proceeding. Key elements of the 2025 rate agreement, which will be effective from January 2026 through at least December 2029, include the following: New retail base rates and charges would be established resulting in the following increases in annualized retail base revenues: $945 million beginning January 1, 2026; and $705 million beginning January 1, 2027. In addition, FPL would receive, subject to conditions specified in the 2025 rate agreement, base rate increases associated with solar generation projects that enter service in 2027, 2028, and 2029 and battery storage projects that enter service in 2028 and 2029 through a Solar and Battery Base Rate Adjustment (SoBRA) mechanism. FPL would be required to demonstrate either a specified economic or resource/reliability need for these projects. FPL's authorized regulatory return on common equity (regulatory ROE) would be 10.95%, with a range of 9.95% to 11.95%. If FPL's earned regulatory ROE were to fall below 9.95%, FPL could seek retail base rate relief. If the earned regulatory ROE were to rise above 11.95%, any party with standing could seek a review of FPL's retail base rates. FPL's authorized regulatory capital structure would reflect a 59.6% equity ratio, consistent with prior base rate cases. FPL would be authorized to implement a rate stabilization mechanism (RSM) over the term of the 2025 rate agreement that would be comprised of: 1) up to $1.155 billion of certain deferred tax liabilities related to repairs and mixed service costs, 2) any balance remaining related to FPL's existing reserve amortization mechanism as of January 1, 2026, and 3) investment tax credit amortizatio

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized. Date: November 20, 2025 NEXTERA ENERGY, INC. (Registrant) WILLIAM J. GOUGH William J. Gough Vice President, Controller and Chief Accounting Officer FLORIDA POWER & LIGHT COMPANY (Registrant) KEITH FERGUSON Keith Ferguson Vice President, Accounting, Financial Planning and Controller 5

View Full Filing

View this 8-K filing on SEC EDGAR