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NextEra Energy Capital sells $800M of debentures

NextEra Energy Capital Holdings Inc. sold $800 million of its floating-rate senior unsecured debentures due Sept. 3, 2019, according to a March 7 free writing prospectus.

The NextEra Energy Inc. subsidiary plans to use net proceeds to fund investments in energy and power projects and for other general corporate purposes, including the repayment of its outstanding commercial paper obligations. Pending such use, the company will temporarily invest the proceeds in short-term instruments.

As of March 6, NextEra Energy Capital had $540 million of outstanding commercial paper obligations.

Interest on the debentures is payable quarterly on March 3, June 3, Sept. 3 and Dec. 3 of each year, starting June 3. The securities were expected to be rated Baa1 by Moody's, BBB+ by S&P Global Ratings and A- by Fitch Ratings.

Morgan Stanley & Co. LLC acted as the sole book-running manager.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.