NextEra Energy to launch remarketing of series F debentures due 2017

By Angela McDaniels

Tacoma, Wash., July 28 – NextEra Energy, Inc. subsidiary NextEra Energy Capital Holdings, Inc. will conduct a remarketing of its $650 million of outstanding series F debentures due Sept. 1, 2017, according to a company news release.

The remarketing will occur on Aug. 5 and, if necessary, on the following two days.

The debentures were originally issued as part of NextEra Energy’s corporate units on Sept. 11, 2012. The units consist of a contract to purchase NextEra Energy common stock and a 5% beneficial ownership interest in $1,000 principal amount of NextEra Energy Capital Holdings debentures due Sept. 1, 2017.

If the remarketing is successful, the interest rate on the debentures will be reset to a rate that will enable the debentures to be remarketed at a price equal to or greater than the sum of the remarketing Treasury portfolio purchase price, the separate debentures of the 22nd series purchase price and the remarketing fee, as those terms are defined under the indenture of the debentures.

The reset interest rate and the subsequent interest payment dates will be established on the date of the successful remarketing.

The remarketing fee will not exceed 0.25% of the sum of the remarketing Treasury portfolio purchase price plus the separate debentures of the 22nd series purchase price.

The proceeds of the remarketing of the debentures that are components of the corporate units will be used to purchase a portfolio of Treasury securities that will be substituted for the debentures and pledged to secure the obligation of the holders of the corporate units to purchase NextEra Energy common stock on Sept. 1 under the purchase contract.

The proceeds from the remarketing of any debentures that are not a component of corporate units and whose holders elect to include some or all of those debentures in the remarketing will be paid to those holders.

Goldman Sachs & Co., Barclays and Citigroup Global Markets Inc. are the remarketing agents.

NextEra Energy is a clean energy company based in Juno Beach, Fla.

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