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Fundraising - SEPTEMBER 16, 2020

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NextEra Energy puts $2b equity units up for sale

by Kali Persall

Florida-based clean energy company NextEra Energy has agreed to sell $2 billion of equity units to Bank of America Securities and Barclays.

The transaction is expected to close on Sept. 18.

According to NextEra, 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 percent undivided beneficial ownership interest in NextEra Energy Capital Holdings.

Each stock-purchase contract will require the holder to purchase NextEra Energy common stock for cash, based on a per-share price range of $295.70 to $369.63. The higher end of this price range reflects a premium of 25 percent over the New York Stock Exchange closing price of NextEra Energy common stock on Sept. 15, which was $295.70.

The net proceeds from the sale of the equity units, which are expected to be about $1.94 billion, will be added to the general funds of NextEra Energy Capital Holdings. Ne

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