Agricultural Bank of China New York Branch (“ABC NY”) recently completed a syndicated loan deal for Florida Power & Light Company (“FPL”). In this deal, ABC NY acted as a co-lead arranger for the first time since our opening last year. This is a major breakthrough in our business.
ABC NY has successfully participated in several syndicated loans since October 2012, enhancing our brand visibility. By cooperating with local banks, we have completed the transition from participating bank to co-lead arranger, and established a direct relationship with US Fortune 500 companies.
Florida Power & Light Company is the largest rate-regulated electric utility in Florida and serves the third-largest number of customers of any electric utility in the United States. FPL serves approximately 4.6 million customer accounts and is a leading Florida employer with approximately 10,000 employees as of year-end 2012. During the five-year period ended December 31, 2012, the company delivered the best service reliability among Florida investor-owned utilities. As of year-end 2012, its typical residential customer bills are the lowest in Florida, and based on data available in July 2012, are about 26 percent below the national average. A clean energy leader, FPL has one of the lowest emissions profiles and one of the leading energy efficiency programs among utilities nationwide. FPL is a subsidiary of Juno Beach, Fla.-based NextEra Energy, Inc. (NYSE: NEE). For more information, visit www.FPL.com.