Progress Energy (ticker: PGN, exchange: New York Stock Exchange (.N))
News Release -
Florida Power Corporation d/b/a Progress Energy Florida, Inc. Elects to Redeem BondsST. PETERSBURG, Fla., Feb 21, 2003 /PRNewswire-FirstCall via COMTEX/ -- Florida
Power Corporation d/b/a Progress Energy Florida, Inc. announced today that it
has elected to redeem on March 24, 2003, all $150,000,000 outstanding principal
amount of its First Mortgage Bond, 8% Series due 2022, CUSIP No. 341099BG3 (the
"Bonds"). Formal notice of the redemption will be provided in accordance with
the applicable provisions of the Bonds.
The Bonds will be redeemed at 103.75% of their principal amount plus accrued
interest from December 1, 2002 (the last payment due with respect to the Bonds)
to the redemption date (the "Redemption Price"). On and after March 24, 2003,
interest will cease to accrue on the Bonds.
Payment of the redemption price of the Bonds will be made upon presentation of
the bond certificates to the trustee at the offices listed below. Holders of the
Bonds may deliver their certificates by hand, or mail them by registered or
certified mail, to:
First Chicago Trust Company of New York
151 W. 51st Street - 5th Floor
New York, New York 10019
If by mail delivery, to:
Bank One Trust Company, N.A.
Corporate Trust Operations
P.O. Box 710184
Columbus, OH 43271-0184
If by hand delivery, to:
Suite 1-N (OH1-0184)
1111 Polaris Parkway
Columbus, OH 43240
Questions or comments may be directed to the Trustee's Customer Service Unit at
Progress Energy Florida, Inc., a subsidiary of Progress Energy (NYSE: PGN),
provides electricity and related services to more than 1.5 million customers in
Florida. The company is headquartered in St. Petersburg, Florida, and serves a
territory encompassing over 20,000 square miles including the cities of St.
Petersburg, Clearwater, as well as the Central Florida area surrounding Orlando.
For more information about Florida Power, visit the company's Web site at:
SOURCE Progress Energy Florida, Inc.
CONTACT: Trustee's Customer Service Unit, +1-800-346-5153