NextEra Energy announces sale of equity units
JUNO BEACH, Fla., Sept. 6, 2012 /PRNewswire-FirstCall/ -- NextEra Energy, Inc. (NYSE: NEE) announced today that it has agreed to sell $650 million of equity units to Goldman, Sachs & Co., Barclays, and Citigroup. The transaction is expected to close on Sept. 11, 2012.
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 a NextEra Energy Capital Holdings, Inc. debenture due Sept. 1, 2017, 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. Total annual distributions on the equity units will be at the rate of 5.889 percent, consisting of interest on the debentures and payments under the stock purchase contracts.
Each stock purchase contract will require the holder to purchase NextEra Energy common stock for cash, based on a per share price range of $67.15 to $80.58. The higher end of this price range reflects a premium of 20 percent over the New York Stock Exchange closing price of NextEra Energy common stock on Sept. 5, 2012, which was $67.15. The holders must complete the stock purchase by no later than Sept. 1, 2015, 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 $630 million (after deducting the underwriting discount and other offering expenses), will be added to the general funds of NextEra Energy Capital Holdings.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such jurisdiction. Each offering may be made only by means of a prospectus and the related prospectus supplement, copies of which may be obtained from Goldman, Sachs & Co., 200 West Street, New York, New York 10282, Attention: Prospectus Department, by calling (866) 471-2526, or by emailing email@example.com.
NextEra Energy, Inc.
NextEra Energy, Inc. (NYSE: NEE) is a leading clean energy company with revenues of more than $15.3 billion, more than 41,000 megawatts of generating capacity, and approximately 15,000 employees in 24 states and Canada as of year-end 2011. Headquartered in Juno Beach, Fla., NextEra Energy's principal subsidiaries are Florida Power & Light Company, which serves approximately 4.6 million customer accounts in Florida and is one of the largest rate-regulated electric utilities in the country, and NextEra Energy Resources, LLC, which together with affiliated entities is the largest generator in the United States of renewable energy from the wind and sun. Through its subsidiaries, NextEra Energy generates clean, emissions-free electricity from eight commercial nuclear power units in Florida, New Hampshire, Iowa and Wisconsin. For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com, www.FPL.com, www.NextEraEnergyResources.com.
SOURCE NextEra Energy, Inc.