-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WzCis0dwCI6OhRu+GKC2/k9stExD7b9HGs7s7YebTT0RdL3nVxGSIDxLVU6PJdgy YSgIkMFLBem5ieAWnK7BBw== 0000950144-07-008638.txt : 20070918 0000950144-07-008638.hdr.sgml : 20070918 20070917205117 ACCESSION NUMBER: 0000950144-07-008638 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20070918 DATE AS OF CHANGE: 20070917 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: FLORIDA POWER CORP CENTRAL INDEX KEY: 0000037637 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 590247770 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-126967 FILM NUMBER: 071121231 BUSINESS ADDRESS: STREET 1: 100 CENTRAL AVENUE CITY: ST. PETERSBURG STATE: FL ZIP: 33701 BUSINESS PHONE: 7278205151 MAIL ADDRESS: STREET 1: 100 CENTRAL AVENUE CITY: ST. PETERSBURG STATE: FL ZIP: 33701 FORMER COMPANY: FORMER CONFORMED NAME: FLORIDA POWER CORP / DATE OF NAME CHANGE: 19950829 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: FLORIDA POWER CORP CENTRAL INDEX KEY: 0000037637 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 590247770 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 100 CENTRAL AVENUE CITY: ST. PETERSBURG STATE: FL ZIP: 33701 BUSINESS PHONE: 7278205151 MAIL ADDRESS: STREET 1: 100 CENTRAL AVENUE CITY: ST. PETERSBURG STATE: FL ZIP: 33701 FORMER COMPANY: FORMER CONFORMED NAME: FLORIDA POWER CORP / DATE OF NAME CHANGE: 19950829 FWP 1 g09150fwfwp.htm FLORIDA POWER CORPORATION DBA PROGRESS ENERGY FLORIDA, INC. Florida Power Corporation dba Progress Energy Flor
 

Free Writing Prospectus Dated September 13, 2007
Registration Statement No. 333-126967
Filed Pursuant to Rule 433 of the Securities Act of 1933
FINAL TERM SHEET
     
Issuer:
  Florida Power Corporation d/b/a Progress Energy Florida, Inc.
 
    
Supplemental Indenture:
  Forty-sixth, dated as of September 1, 2007 
 
    
Format:
  SEC Registered
 
    
Trade Date:
  September 13, 2007 
 
    
Settlement Date:
  September 18, 2007 
 
    
Joint Book-Running Managers:
  Banc of America Securities LLC
 
  Greenwich Capital Markets, Inc.
 
  Barclays Capital Inc.
 
  Deutsche Bank Securities Inc.
 
    
Co-Managers:
  Goldman, Sachs & Co.
 
  Lazard Capital Markets LLC
 
  The Williams Capital Group, L.P.
 
    
Tranche A
    
 
    
Security:
  First Mortgage Bonds, 5.80% Series due 2017 
 
    
Expected Ratings:
  A2 (Moody’s); A- (S&P); A+ (Fitch)
 
    
Principal Amount:
  $250,000,000 
 
    
Date of Maturity:
  September 15, 2017 
 
    
Interest Rate:
  5.80% 
 
    
Interest Payment Dates:
  Payable semi-annually in arrears on March 15 and September 15, commencing March 15, 2008 
 
    
Public Offering Price:
  99.731% of the principal amount thereof, plus no accrued interest to the date of payment and delivery.
 
    
Benchmark Treasury:
  4.75% UST due on August 15, 2017 
 
    
Benchmark Treasury Yield:
  4.486% 
 
    
Spread to Benchmark Treasury:
  135 basis points
 
    
Re-offer Yield:
  5.836% 
 
    
Redemption Terms:
  Optional — redeemable prior to maturity, in whole or in part, at the option of the Company at a make-whole redemption price (as defined and described in further detail in the Prospectus Supplement) using applicable treasury rate plus 25 basis points.
 
    
 
  Special — redeemable prior to maturity, in whole but not in part, upon the occurrence of specific events, at the option of the Company at a make-whole redemption price (as defined and described in further detail in the Prospectus Supplement).

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Tranche B
    
 
    
Security:
  First Mortgage Bonds, 6.35% Series due 2037 
 
    
Expected Ratings:
  A2 (Moody’s); A- (S&P); A+ (Fitch)
 
    
Principal Amount:
  $500,000,000 
 
    
Date of Maturity:
  September 15, 2037 
 
    
Interest Rate:
  6.35% 
 
    
Interest Payment Dates:
  Payable semi-annually in arrears on March 15 and September 15, commencing March 15, 2008 
 
    
Public Offering Price:
  99.868% of the principal amount thereof, plus no accrued interest to the date of payment and delivery.
 
    
Benchmark Treasury:
  4.75% UST due on February 15, 2037 
 
    
Benchmark Treasury Yield:
  4.760% 
 
    
Spread to Benchmark Treasury:
  160 basis points
 
    
Re-offer Yield:
  6.360% 
 
    
Redemption Terms:
  Optional — redeemable prior to maturity, in whole or in part, at the option of the Company at a make-whole redemption price (as defined and described in further detail in the Prospectus Supplement) using applicable treasury rate plus 30 basis points.
 
    
 
  Special — redeemable prior to maturity, in whole but not in part, upon the occurrence of specific events, at the option of the Company at a make-whole redemption price (as defined and described in further detail in the Prospectus Supplement).
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov (and more specifically, at the URL link http://sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000037637&owner=include). Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Banc of America Securities LLC toll-free at 1-800-294-1322 or Greenwich Capital Markets, Inc. toll-free at 1-866-884-2071.

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