NextEra Energy Partners has announced the pricing of the private offering of $750 million senior unsecured notes, due 2029.
The notes will be issued by NextEra’s direct subsidiary, NextEra Energy Operating Partners (NEP OpCo), and the offering is expected to close on Dec. 15.
NEP OpCo will add the net proceeds from the sale of the notes to its general funds. NEP OpCo expects to use its general funds to repay its 4.25 percent senior notes due in July 2024 and to repay its remaining outstanding 4.25 percent senior notes due in September 2024.
In advance of such use, NEP OpCo expects to use the proceeds to repay borrowings outstanding under its revolving credit facility and may temporarily invest the proceeds in short-term instruments or may use the proceeds for other general partnership purposes.
Headquartered in Juno Beach, Fla., NextEra Energy Partners owns interests in geographically diverse wind, solar and energy storage projects, as well as natural g