By Cristal Cody and Rebecca Melvin
New York, March 16 – NextEra Energy Capital Holdings Inc. has priced $2.5 billion of two-year notes in fixed- and floating-rate tranches (expected ratings: Baa1/BBB+/A-), according to a FWP filed with the Securities and Exchange Commission.
The $2 billion of 0.65% fixed-rate notes priced at 99.99 for a reoffer yield of 0.655% and a spread of Treasuries plus 50 basis points.
The $500 million tranche of floaters priced at par and bear interest at SOFR plus 54 bps.
The floating-rate notes will have an interest rate that resets quarterly starting June 1.
The notes will be guaranteed by parent NextEra Energy, Inc.
Barclays, BofA Securities Inc., Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Mizuho Securities USA LLC, Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC are the joint bookrunners, according to a 424B5 filing with the Securities and Exchange Commission.
Proceeds will be used for general funds, which fund investments in energy and power projects and for other general corporate purposes. General corporate purposes may include the repayment of a portion of the company’s outstanding commercial paper obligations, of which there is $3.37 billion.
The energy company is based in Juno Beach, Fla.
| Issuer: | NextEra Energy Capital Holdings Inc.
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| Guarantor: | NextEra Energy, Inc.
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| Issue: | Notes
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| Amount: | $2.5 billion
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| Maturity: | March 1, 2023
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| Bookrunners: | Barclays, BofA Securities Inc., Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Mizuho Securities USA LLC, Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC
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| Co-managers: | Academy Securities Inc., Hancock Whitney Investment Services Inc., Huntington Securities Inc., Loop Capital Markets LLC, Mischler Financial Group Inc., nabSecurities LLC and Natixis Securities Americas LLC
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| Junior co-managers: | C.L. King & Associates Inc. and Guzman & Co.
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| Trade date: | March 15
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| Settlement date: | March 17
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| Ratings: | Moody’s: Baa1
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| S&P: BBB+
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| Fitch: A-
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| Distribution: | SEC registered
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| Fixed-rate notes
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| Amount: | $2 billion
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| Coupon: | 0.65%
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| Price: | 99.99
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| Yield: | 0.655%
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| Spread: | Treasuries plus 50 bps
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| Floating-rate notes
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| Amount: | $500 million
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| Coupon: | SOFR plus 54 bps, resets quarterly
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| Price: | Par
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| Yield: | SOFR plus 54 bps
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