Debt

6 Months Ended

Jun. 30, 2019

Significant long-term debt issuances and borrowings during the six months ended June 30, 2019 were as follows:



	Principal Amount		Interest Rate						Maturity Date
	(millions)
FPL:
First mortgage bonds	$	600	3.99				%		2049
Senior unsecured notes	$	1,000	Variable					^(a)	2022
NEECH:
Debentures	$	550	Variable					^(a)	2020 - 2022
Debentures	$	3,500	2.90	%	-	3.50	%		2022 - 2029
Junior subordinated debentures	$	1,188	5.65				%	^(b)	2079
Other	$	500	Variable					^(a)	2021 - 2022

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(a)	Variable rate is based on an underlying index plus a specified margin.


(b)	$500 million will bear interest at a variable rate based on an underlying index plus a specified margin beginning in May 2029.

In April 2019, NEECH repaid $4.5 billion of borrowings under the short-term term loan agreements that it entered into to finance a portion of the purchase price paid by NEE for the acquisition of Gulf Power. See Note 7 - Gulf Power.

In July 2019, NEECH borrowed a total of $700 million under four separate revolving credit facilities with maturity dates ranging from November 2020 to April 2021. Interest on the borrowings is at a variable rate based on an underlying index plus a specified margin. The proceeds from the borrowings were used primarily to finance the purchase price paid for the acquisition of Trans Bay. See Note 7 - Trans Bay Cable, LLC.

During the second quarter of 2019, waivers related to events of default under certain financings caused by the bankruptcy filing of a counterparty to several PPAs were received for two financings with total principal outstanding of approximately $164 million, which, subject to certain conditions, waived the lenders' ability to accelerate the repayment of borrowings thereunder. The related debt amounts were reclassified from current to long-term during the quarter ended June 30, 2019. At June 30, 2019, approximately $184 million of debt remains classified as current, which relates to the one remaining financing in default.