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NextEra Energy Capital prices $450M of debentures

NextEra Energy Capital Holdings Inc. priced a $450 million offering of 1.95% debentures due Sept. 1, 2022, at 100% of the principal amount.

Interest on the securities is payable semiannually on March 1 and Sept. 1, beginning on March 1, 2020. The debentures have a spread to benchmark Treasury yield of 61 basis points and were expected to be rated Baa1 from Moody's, BBB+ from S&P Global Ratings and A- from Fitch Ratings.

The NextEra Energy Inc. subsidiary will add net proceeds to its general funds and use those funds to support investments in energy and power projects and for other general corporate purposes, including the repayment of a portion of its outstanding commercial paper obligations. Pending such use, the company temporarily invest the proceeds in short-term instruments.

As of Oct. 2, NextEra Energy Capital had $1.8 billion of outstanding commercial paper obligations, with maturities of up to 35 days annual interest rates ranging from 2.27% to 2.90%.

Morgan Stanley is acting as the book-running manager.