Debt

9 Months Ended

Sep. 30, 2023

Significant long-term debt issuances and borrowings during the nine months ended September 30, 2023 were as follows:


	Principal Amount		Interest Rate						Maturity Date
	(millions)
FPL:
First mortgage bonds	$	4,500	4.40	%	–	5.30	%		2028	–	2053
Senior unsecured notes	$	500	4.45				%		2026
Senior unsecured notes	$	486	Variable					(a)	2073
NEECH:
Debentures	$	4,000	4.90	%	–	5.25	%		2028	–	2053
NEER:
NEET – long term debt	$	317	4.86				%		2053

———————————————

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

In March 2023, NEECH completed a remarketing of $2.5 billion aggregate principal amount of its Series K Debentures due March 1, 2025 that were issued in February 2020 as components of equity units issued concurrently by NEE (February 2020 equity units). The debentures are fully and unconditionally guaranteed by NEE. In connection with the remarketing of the debentures, the interest rate on the debentures was reset to 6.051% per year, and interest is payable on March 1 and September 1 of each year, commencing September 1, 2023. In connection with the settlement of the contracts to purchase NEE common stock that were issued as components of the February 2020 equity units, on March 1, 2023, NEE issued 33,380,000 shares of common stock in exchange for $2.5 billion.

In August 2023, NEECH completed a remarketing of $2.0 billion aggregate principal amount of its Series L Debentures due September 1, 2025 that were issued in September 2020 as components of equity units issued concurrently by NEE (September 2020 equity units). The debentures are fully and unconditionally guaranteed by NEE. In connection with the remarketing of the debentures, the interest rate on the debentures was reset to 5.749% per year, and interest is payable on March 1 and September 1 of each year, commencing September 1, 2023. In connection with the settlement of the contracts to purchase NEE common stock that were issued as components of the September 2020 equity units, on September 1, 2023, NEE issued 27,344,000 shares of common stock in exchange for $2.0 billion.