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