UNITED
STATES SECURITIES AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d)
OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of
earliest event reported: January 16,
2009
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Commission
File
Number
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Exact
name of registrant as specified in its
charter,
address of principal executive offices and
registrant's
telephone number
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IRS
Employer
Identification
Number
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||
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1-8841
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FPL
GROUP, INC.
700
Universe Boulevard
Juno
Beach, Florida 33408
(561)
694-4000
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59-2449419
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State or
other jurisdiction of incorporation or
organization: Florida
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
[ ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
[ ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
SECTION
2 - FINANCIAL
INFORMATION
Item
2.03 Creation of a Direct Financial Obligation or an Obligation under
an Off-Balance Sheet Arrangement of a Registrant
On
January 16, 2009, Aquilo LP, ULC (Aquilo), an indirect wholly-owned subsidiary
of NextEra Energy Resources, LLC (NextEra Energy Resources), entered into a
Canadian $94.6 million limited-recourse senior secured variable rate term loan
agreement maturing in December 2023. On January 22, 2009, Aquilo
borrowed Cdn $94.6 million under the agreement, which was equivalent to
approximately US $75.4 million as of that date. NextEra Energy
Resources is an indirect wholly-owned subsidiary of FPL Group, Inc. Interest on
the loan is payable quarterly and the principal is payable
semi-annually. The proceeds of the loan will be used primarily to
repay a portion of existing corporate indebtedness of Aquilo’s parent which is
guaranteed by FPL Group Capital Inc. The loan is secured by liens on
certain Canadian wind generation assets and associated transmission facilities,
and certain other assets of, and the ownership interest in,
Aquilo. The loan agreement contains default and related acceleration
provisions relating to the failure to make required payments, certain events in
bankruptcy and other covenants applicable to Aquilo.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.
FPL
GROUP, INC.
(Registrant)
Date: January
23, 2009
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K.
MICHAEL DAVIS
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K.
Michael Davis
Controller
and Chief Accounting Officer of FPL Group, Inc.
(Principal
Accounting Officer of the
Registrant)
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2