trending Market Intelligence /marketintelligence/en/news-insights/trending/uZGcFe3nuNzptM-IXfbh-w2 content esgSubNav
In This List

NextEra Energy Capital completes sale of $687.5M of debentures


Despite turmoil, project finance remains keen on offshore wind

Case Study

An Energy Company Assesses Datacenter Demand for Renewable Energy


Japan M&A By the Numbers: Q4 2023


See the Big Picture: Energy Transition in 2024

NextEra Energy Capital completes sale of $687.5M of debentures

NextEra Energy Capital Holding Inc. has completed the sale of $687.5 million of 5.650% series N junior subordinated debentures due March 1, 2079.

Underwriters exercised their option to purchase up to an additional $90 million of debentures, on top of the original $600 million issuance, to cover any overallotment.

Interest on the debentures is payable quarterly in arrears on every 1st of March, June, September and December, beginning June 1.

The NextEra Energy Inc. subsidiary intends to add net proceeds from the transaction to its general funds, and expects to use those funds for general corporate purposes, including the repayment of a portion of its outstanding commercial paper obligations and the potential repayment of a portion of borrowings under four separate term-loan agreements.

The loan agreements were used to fund NextEra Energy's acquisition of Gulf Power Co. from Southern Co.

Merrill Lynch Pierce Fenner & Smith Inc., Morgan Stanley & Co. LLC, UBS Securities LLC and Wells Fargo Securities LLC acted as joint book-running managers. J.P. Morgan Securities LLC and RBC Capital Markets LLC served as co-managers.