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JUNO BEACH, Fla.,
May 1, 2012 /PRNewswire-FirstCall/ -- NextEra Energy, Inc. (NYSE: NEE) announced today that it has agreed to sell
$600 million of equity units to BofA Merrill Lynch. NextEra Energy has granted BofA Merrill Lynch an option to purchase an additional
$90 million of equity units to cover over-allotments. The transaction is expected to close on
May 4, 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 1/20th, or 5 percent, undivided beneficial ownership interest in a NextEra Energy Capital Holdings, Inc. debenture due
June 1, 2017, in the principal amount of
$1,000. The debentures will be guaranteed by NextEra Energy Capital Holdings' parent company, NextEra Energy, Inc.
Each stock purchase contract will require the holder to purchase NextEra Energy common stock for cash, based on a per share price range of
$64.35 to $77.22. 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
April 30, 2012, which was
$64.35. Total annual distributions on the equity units will be at the rate of 5.599 percent, consisting of interest on the debentures and payments under the stock purchase contracts. The holder must complete the stock purchase by no later than
June 1, 2015, and may satisfy its purchase obligation with proceeds raised from remarketing the NextEra Energy Capital Holdings debentures that comprise part of its equity unit.
NextEra Energy Capital Holdings will add the net proceeds from the sale of the NextEra Energy Capital Holdings debentures, which are expected to be approximately
$582 million or approximately
$669 million if the overallotment option is exercised in full (in each case, after deducting the underwriting discount and other offering expenses) to its general funds.
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 BofA Merrill Lynch, 4 World Financial Center,
New York, NY 10080, Attn: Prospectus Department or by emailing
firstname.lastname@example.org.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 operates the third largest number of commercial nuclear power units in
the United States. For more information about NextEra Energy companies, visit these websites:
SOURCE NextEra Energy, Inc.