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NextEra Energy launches $1.5B offering of equity units

NextEra Energy Inc. plans to sell $1.5 billion of equity units in a stated amount of $50 apiece, according to a Sept. 4 news release.

Each equity unit will consist of a contract to purchase NextEra Energy common stock in the future and a 5% undivided beneficial ownership interest in a NextEra Energy Capital Holdings Inc. debenture due Sept. 1, 2024. The debenture will be issued in the principal amount of $1,000 and will be guaranteed by NextEra Energy.

The holders will be required to complete the stock purchase by Sept. 1, 2022, and their purchase obligations may be satisfied with proceeds raised from remarketing the debentures that comprise part of their equity units.

Net proceeds of approximately $1.45 billion will be added to the general funds of NextEra Energy Capital, which plans to use such funds to fund investments in energy and power projects and repay all or a portion of its outstanding commercial paper obligations, among other general corporate purposes.