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NextEra Energy Partners launches tender offer for trust certificates

An indirect subsidiary of NextEra Energy Partners launched a cash tender offer for Genesis Solar 2011 pass-through trust's outstanding 3.875% series A trust certificates due 2038, and 5.125% series B trust certificates due 2038.

The pass-through trust was formed to fund Genesis Solar LLC's construction of a 250-MW solar thermal generation facility in Riverside, Calif., which achieved full operations in 2014.

The NextEra Energy Partners' subsidiary owns about 48% of the outstanding series B certificates that were bought Sept. 13 at the same price to be paid in this latest offering.

The offer will expire one minute after 11:59 p.m. ET on Oct. 11, unless extended or earlier terminated.

Holders who validly tender their certificates before 5 p.m. ET on Sept. 27 will be eligible to receive a total consideration of $30 per $1,000 current outstanding principal balance.

Holders can withdraw their tendered certificates before 5 p.m. ET on Sept. 27, unless extended.

Subject to certain conditions, the settlement date for the offer is expected on Oct. 17.

Goldman Sachs & Co. LLC is acting as dealer manager for the offer.

NextEra Energy Partners is the yieldco affiliate of NextEra Energy Inc.