trending Market Intelligence /marketintelligence/en/news-insights/trending/JSQ2visaZZU8E5l_uDz-bw2 content esgSubNav
In This List

NextEra Energy secures $4.5B term loan to help fund Gulf Power deal

Blog

Insight Weekly: Banks' efficiency push; vacuuming carbon; Big Pharma diversity goals

Blog

Smart thermostats gain traction in US, point to modest electricity savings

Blog

The Future of Risk Management Digitization in Credit Risk Management

Blog

Insight Weekly: Banks pursue deals; offshore wind transmission; UK broadcasters vs. streamers


NextEra Energy secures $4.5B term loan to help fund Gulf Power deal

NextEra Energy Capital Holdings Inc. on Dec. 31, 2018, borrowed a total of $4.5 billion under four separate bilateral term loan agreements to help finance parent company NextEra Energy Inc.'s $5.75 billion acquisition of Gulf Power Co.

According to a Form 8-K filing, amounts outstanding under the loan agreements will mature on June 25, and the interest will be based on Eurodollar Rate plus a specified margin that is subject to adjustment depending upon the length of time the loans are outstanding.

On Jan. 1, NextEra closed its acquisition of Gulf Power from Southern Co. for approximately $4.35 billion in cash plus the assumption of approximately $1.4 billion of Gulf Power debt, subject to certain adjustments.