NextEra Energy Capital Holdings Inc. sold $500 million of its 2.8% unsecured debentures due Jan. 15, 2023, according to a Dec. 11 free writing prospectus.
Interest on the debentures is payable semiannually on Jan. 15 and July 15 of each year, starting July 15, 2018. The securities have a spread to benchmark Treasury of 65 basis points and were expected to be rated Baa1 by Moody's, BBB+ by S&P Global Ratings and A- by Fitch Ratings.
The NextEra Energy Inc. subsidiary expects to add net proceeds to its general funds and use those funds to redeem on Dec. 28 all of its outstanding $500 million of 6% debentures due March 1, 2019. Pending such use, the funds will be used to support investments in energy and power projects and for other general corporate purposes.
CIBC World Markets Corp., Credit Suisse Securities (USA) LLC, Merrill Lynch Pierce Fenner & Smith Inc., RBC Capital Markets LLC and Regions Securities LLC acted as joint book-running managers. SG Americas Securities LLC and The Williams Capital Group LP served as co-managers.
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