FPL is a subsidiary of Juno Beach, Fla.-based NextEra Energy, Inc. A clean energy leader, FPL has one of the lowest emissions profiles and one of the leading energy efficiency programs among utilities nationwide. Given their irreplaceable role in the facilitation and administration of the Syndicated Loan Agreement, in this article, an effort is made to discuss the role and liabilities of the Arranger and. 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. For lead arrangers and their partners, loan syndication software is a great helper when it comes to streamlining processes and managing multiple deals simultaneously. During the five-year period ended December 31, 2012, the company delivered the best service reliability among Florida investor-owned utilities. FPL serves approximately 4.6 million customer accounts and is a leading Florida employer with approximately 10,000 employees as of year-end 2012. 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.įlorida 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. This is a major breakthrough in our business.ĪBC NY has successfully participated in several syndicated loans since October 2012, enhancing our brand visibility. In this deal, ABC NY acted as a co-lead arranger for the first time since our opening last year. The lead bank receives an additional fee for this service, which involves recruiting the syndicate members and. The arranger conducts the credit assessment of the borrower, the syndication of the loan to the lenders, the appointment of the lenders lead attorney and negotiation of the loan documentation. The results viewed solely in the context of the syndicated loan market help us to understand a large and important source of corporate finance. A lead bank is a bank that oversees the arrangement of loan syndication. The financial institution that arranges for a loan between a borrower and a syndicate of lenders.
Agricultural Bank of China New York Branch (“ABC NY”) recently completed a syndicated loan deal for Florida Power & Light Company (“FPL”). Lead arrangers are able to syndicate out a larger share of the loan when borrowers repeatedly access the syndicated loan market, and if the lead arranger itself has a strong reputation.