NextEra Energy, Inc. NEE, +0.05%announced today that it intends to sell $700 million of equity units.
Each equity unit will be issued in a stated amount of $50. Each equity unit will consist of a contract to purchase NextEra Energy common stock in the future, and a 5 percent undivided beneficial ownership interest in a NextEra Energy Capital Holdings, Inc. debenture due Sept. 1, 2020, to be issued in the principal amount of $1,000. The debentures will be guaranteed by NextEra Energy Capital Holdings' parent company, NextEra Energy, Inc.
The holders would be required to complete the stock purchase by no later than Sept. 1, 2018, and their purchase obligations may be satisfied with proceeds raised from remarketing the debentures that comprise part of their equity units.
The net proceeds from the sale of the equity units, which are expected to be approximately $692 million (after deducting the underwriting discount and other offering expenses), will be added to the general funds of NextEra Energy Capital Holdings. NextEra Energy Capital Holdings expects to use its general funds to fund investments in energy and power projects, including renewable power projects, and investments in NextEra Energy Partners, LP's NEP, +0.61% subsidiary, NextEra Energy Operating Partners, LP.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such jurisdiction. The offering may be made only by means of a prospectus and the related prospectus supplement, copies of which may be obtained from NextEra Energy, Inc., Investor Relations, telephone (561) 694-4697.
NextEra Energy, Inc.NextEra Energy, Inc. NEE, +0.05% is a leading clean energy company with consolidated revenues of approximately $17.0 billion, approximately 44,900 megawatts of generating capacity, which includes megawatts associated with noncontrolling interests related to NextEra Energy Partners, LP NEP, +0.61% and approximately 13,800 employees in 27 states and Canada as of year-end 2014. Headquartered in Juno Beach, Fla., NextEra Energy's principal subsidiaries are Florida Power & Light Company, which serves approximately 4.8 million customer accounts in Florida and is one of the largest rate-regulated electric utilities in the United States, and NextEra Energy Resources, LLC, which, together with its affiliated entities, is the world's largest generator of renewable energy from the wind and sun. Through its subsidiaries, NextEra Energy generates clean, emissions-free electricity from eight commercial nuclear power units in Florida, New Hampshire, Iowa and Wisconsin. For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com, www.FPL.com,www.NextEraEnergyResources.com.