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Energy capital raises in 2016: NextEra Energy Capital adds $500M to power sector's YTD debt raises

Asof April 1, the U.S. energy industry had raised $12.09 billion of senior debt,$3.80 billion of preferred equity, $1.80 billion of common equity, $550.0million of subordinated debt and $300.0 million of subsidiary trust preferredin 2016. The power sector had raised $11.52 billion and the midstream sectorhad raised $6.98 billion.


on March 30completed a follow-on offering of 2,875,000 common representing limited partnerinterests at $18.16 per unit, totaling about $52.2 million.

Thepartnership plans to use net proceeds from the offering to fund a portion ofthe purchase price for the pending assetpurchase from PlainsAll American Pipeline LP, to reduce indebtedness outstanding underits revolving credit facility and for general partnership purposes.

UBSSecurities LLC served as the sole book-running manager.


on March 30completed a follow-on offering of 1.5 million class A common at $18 per share, totaling$27.0 million. Theshares were sold by Retailco LLC.

Thecompany will not receive any proceeds from the sale of shares by the sellingstockholder.

FBRCapital Markets & Co. acted as sole book-running manager.


on March 28 sold $500.0million of 2.30% unsecured debenturesdue April 1, 2019. The debentures have a spread to benchmark Treasury of 130basis points.

TheNextEra Energy Inc.subsidiary plans to use the net proceeds to meet debt obligations, includingthe repayment of outstanding commercial paper.

BNYMellon Capital Markets LLC, Citigroup Global Markets Inc., Crédit AgricoleSecurities (USA) Inc. and Mizuho Securities USA Inc. served as jointbook-running managers.


Click for a template that explains how todownload SNL capital offerings data into an Excel spreadsheet.