Bank of China contributes $62.5 million USD to the $500 million USD syndicated revolving credit facility to Florida Power & Light Company for refinancing and general corporate purposes (Linked to Record ID#105275, #105277, #105278, and #105279)

Project narrative

On April 29, 2022, a syndicate of eight lenders — including the Agricultural Bank of China (ABC), the Bank of China (BOC), China Construction Bank Corporation (CCB), China Merchants Bank Co., Ltd., and the Industrial and Commercial Bank of China (ICBC) — entered into a $500.00 million USD syndicated revolving credit facility (RCF) agreement with Florida Power & Light Company (FPL) — a Florida-incorporated power utility company and wholly-owned subsidiary of NextEra Energy, Inc. based in Juno Beach, Florida — for refinancing and general corporate purposes. This loan carried a maturity period of three years and a final maturity date of April 29, 2025. The proceeds were to be used by the borrower for refinancing purposes and for its general corporate purposes, including paying any interest or fees under the RCF, as back-up for the borrower's self-insurance program for its and its subsidiaries' operating facilities, and to fund the cost of the prompt restoration, reconstruction, and/or repair of facilities damaged or destroyed due to man-made or natural disasters. Each of the 8 lenders, including ABC, BOC, CCB, China Merchants Bank, and ICBC contributed $62.50 million USD to the $500 million USD RCF. Record ID#105275 captures ABC's contribution. Record ID#105276 captures BOC's contribution. Record ID#105277 captures CCB's contribution. Record ID#105278 captures China Merchants Bank's contribution. Record ID#105279 captures ICBC's contribution. In addition to the five Chinese state-owned banks, the following lenders contributed to the RCF: BNP Paribas S.A., Intesa Sanpaolo S.p.A., and Banco Santander, S.A..