UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 22, 2007
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Florida Power & Light Company FPL Recovery Funding LLC
(Exact name of registrant as specified in its charter) (Exact name of registrant as specified in its charter)
State of Florida State of Delaware
(State or other jurisdiction of incorporation) (State or other jurisdiction of incorporation)
333-141357 333-141357-01
(Commission File Number) (Commission File Number)
59-0247775 77-0679907
(IRS Employer Identification No.) (IRS Employer Identification No.)
700 Universe Boulevard 700 Universe Boulevard
Juno Beach, Florida Juno Beach, Florida
(Address of principal executive offices) (Address of principal executive offices)
33408 33408
(Zip Code) (Zip Code)
Registrant's telephone number, including area code Registrant's telephone number, including area code
(561) 694-4000 (561) 694-4000
(Former name or former address, if changed since last report.)
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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 (see General Instruction A.2. below):
[_] 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 8. Other Events
Item 8.01. Other Events
On May 22, 2007, FPL Recovery Funding LLC (the "Issuer") caused the
issuance, pursuant to an Indenture, dated as of May 22, 2007 (the
"Indenture"), between the Issuer and The Bank of New York, as Trustee, of four
tranches of Senior Secured Bonds, Series A. The Tranche A-1, Tranche A-2,
Tranche A-3 and Tranche A-4 Bonds, with an aggregate principal amount of
$652,000,000, were sold to Wachovia Capital Markets, LLC pursuant to a Bond
Purchase Agreement dated as of May 15, 2007. The Indenture is annexed hereto
as Exhibit 4.1.
On May 22, 2007, the Issuer entered into a Storm-Recovery Property
Servicing Agreement (the "Servicing Agreement") with Florida Power and Light
Company ("FPL"). The Servicing Agreement is annexed hereto as Exhibit 99.1.
On May 22, 2007, the Issuer entered into a Storm-Recovery Property Sale
Agreement (the "Sale Agreement") with FPL. The Sale Agreement is annexed
hereto as Exhibit 99.2.
On May 22, 2007, the Issuer entered into an Administration Agreement (the
"Administration Agreement") with FPL. The Administration Agreement is annexed
hereto as Exhibit 99.3.
Section 9. Financial Statements and Exhibits.
Item 9.01. Financial Statements and Exhibits
(a) Not applicable.
(b) Not applicable.
(c) Not applicable.
(d) Exhibits:
4.1 Indenture (including forms of the Senior Secured Bonds).
99.1 Servicing Agreement.
99.2 Sale Agreement.
99.3 Administration Agreement.
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 hereunto duly authorized.
Florida Power & Light Company
By: /s/ Edward F. Tancer
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Name: Edward F. Tancer
Title: Senior Vice President &
General Counsel
FPL Recovery Funding LLC
By: /s/ Edward F. Tancer
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Name: Edward F. Tancer
Title: Manager
Date: May 31, 2007
EXHIBIT INDEX
Exhibit No. Description of Exhibit
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4.1 Indenture (including a form of the Senior Secured Bonds).
99.1 Servicing Agreement.
99.2 Sale Agreement.
99.3 Administration Agreement