NextEra Energy Partners prices USD-500m notes offering

Author: 401(K) 2012 on Flickr, CC BY-SA 2.0

September 19 (Renewables Now) - US clean energy assets owner NextEra Energy Partners LP (NYSE:NEP) has priced a private offering of senior unsecured notes through which it seeks to raise about USD 500 million (EUR 452m).

The company, which was formed by NextEra Energy Inc (NYSE:NEE), will issue 3.875% senior unsecured notes due on October 15, 2026, through its subsidiary NextEra Energy Operating Partners LP (NEP OpCo). The notes will be fully and unconditionally guaranteed on a senior unsecured basis by NextEra Energy Partners LP and NextEra Energy US Partners Holdings LLC, which is a direct unit of NEP OpCo.

The issuer plans to use the net proceeds from the transaction, estimated at USD 493.8 million, for general partnership purposes. This may include financing the purchase of Genesis Solar 2011 Pass-Through Trust's outstanding 3.875% Series A Trust Certificates due 2038 and 5.125% Series B Trust Certificates due 2038.

The offering is seen to close on September 23, 2019.

(USD 1.0 = EUR 0.904)

More stories to explore
Share this story
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription