Fundraising - SEPTEMBER 16, 2020

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

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

Forgot your username or password?

We use cookies and other tracking technologies to personalize your user experience on our site and perform site analytics. By clicking on “I accept”, you consent to our Privacy Policy.