WASHINGTON (dpa-AFX) - NextEra Energy, Inc. (NEE) Monday announced that it intends to sell $2.0 billion of equity units.
Each equity unit will be issued in a stated amount of $50. 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 June 1, 2029, to be issued in the principal amount of $1,000. The debentures will be guaranteed by NextEra Energy Capital Holdings' parent company, NextEra Energy, Inc.
The holders would be required to complete the stock purchase by no later than June 1, 2027, and their purchase obligations may be satisfied with proceeds raised from remarketing the debentures that comprise part of their equity units.
The net proceeds from the sale of the equity units, which are expected to be approximately $1.94 billion, will be added to the general funds of NextEra Energy Capital Holdings.
NextEra Energy Capital Holdings expects to use its general funds to fund investments in energy and power projects and for other general corporate purposes, including the repayment of a portion of its outstanding commercial paper obligations.
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