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NextEra Energy Partners subsidiary borrows $200M in term loans

A subsidiary of NextEra Energy Partners LP has borrowed $200 million under three variable rate senior secured term loan agreements, according to a Form 8-K filed April 4.

Proceeds of the term loans may be used for general corporate purposes, including the $200 million payment of an indemnity holdback related to the October 2015 acquisition of the Texas pipeline business.

All borrowings under the term loans are guaranteed by NextEra Energy Partners and NextEra Energy Operating Partners LP with $100 million due in October 2018 and the remaining principal amount due in March 2019.