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: December 14,
2009
|
Commission
File
Number
|
Exact name of
registrant as specified in its
charter,
address of principal executive offices and
registrant's
telephone number
|
IRS
Employer
Identification
Number
|
||
|
1-8841
|
FPL
GROUP, INC.
700 Universe
Boulevard
Juno Beach,
Florida 33408
(561)
694-4000
|
59-2449419
|
||
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:
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o 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 December 14,
2009, Calhoun Power Company I, LLC (Calhoun I), an indirect wholly-owned
subsidiary of NextEra Energy Resources, LLC (NextEra Energy Resources), entered
into a $130 million limited-recourse senior secured variable rate term loan
agreement and, on December 15, 2009, borrowed $130 million under the agreement.
NextEra Energy Resources is an indirect wholly-owned subsidiary of FPL Group,
Inc. Interest on the loan will be based on the three-month London
InterBank Offered Rate plus a specified margin, payable quarterly, and the
principal will be partially amortizing on a semi-annual basis with a balloon
payment at maturity in December 2019. Immediately upon funding of the
loan, Calhoun I entered into several interest rate swaps to hedge against
interest rate movements with respect to interest payments on the loan. The
proceeds of the loan will be used to reimburse NextEra Energy Resources, in
part, for its capital contributions related to a 668 megawatt natural gas-fired
power generation facility in Alabama. The loan will be secured by liens on
the natural gas-fired power generation facility's assets, and certain other
assets of, and the ownership interest in, Calhoun I. The loan agreement
contains default and related acceleration provisions relating to the failure to
make required payments or to observe other covenants in the term loan
agreement and related documents, actions by Calhoun I or by other parties under
specified agreements relating to the generating facility or the term loan
agreement, the termination of certain of such specified agreements, and certain
events in bankruptcy.
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: December
18, 2009
|
K.
MICHAEL DAVIS
|
|
K.
Michael Davis
Controller
and Chief Accounting Officer of FPL Group, Inc.
(Principal
Accounting Officer of the
Registrant)
|
2