New Issue - Florida Power sells $1.5 bln in 2 parts
June 11 (Reuters) - Florida Power Corp, a unit of Progress Energy Inc (PGN.N: Quote, Profile, Research), on Wednesday sold $1.5 billion of first-mortgage bonds in two parts, according to International Financing Review.
Barclays Capital, Citigroup Global Markets and RBS Greenwich Capital were the joint bookrunning managers for the sale. BORROWER: FLORIDA POWER CORPORATION d/b/a
PROGRESS ENERGY FLORIDA INC FIRST TRANCHE: AMT $500 MLN COUPON 5.65 PCT MATURITY 6/15/2018 TYPE 1ST MTG BDS ISS PRICE 99.639 FIRST PAY 12/15/2008 MOODY'S A2 YIELD 5.698 PCT SETTLEMENT 6/18/2008 S&P A-MINUS SPREAD 163 BPS PAY FREQ SEMI-ANNUAL FITCH A-PLUS MORE THAN TREAS MAKE-WHOLE CALL 25 BPS SECOND TRANCHE: AMT $1.0 BLN COUPON 6.40 PCT MATURITY 6/15/2038 TYPE 1ST MTG BDS ISS PRICE 99.578 FIRST PAY 12/15/2008 MOODY'S A2 YIELD 6.432 PCT SETTLEMENT 6/18/2008 S&P A-MINUS SPREAD 175 BPS PAY FREQ SEMI-ANNUAL FITCH A-PLUS MORE THAN TREAS MAKE-WHOLE CALL 30 BPS
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Dubai Debt Fears
Banks outside the Gulf played down their exposure to Dubai debt, after fears the emirate could default and even derail world economic recovery prompted a sell-off in global markets. Full Article | Slideshow
