NextEra Energy draws $530 million on revolving facility, quickly repays $320 million

By Wendy Van Sickle

Columbus, Ohio, July 6 – NextEra Energy Partners, LP indirect subsidiary NextEra Energy US Partners Holdings, LLC drew $530 million under an existing revolving credit facility on June 29, then repaid about $320 million under the revolver on July 6, according to an 8-K filing with the Securities and Exchange Commission.

The borrowings were used to fund the acquisition of a portfolio of wind and solar generation facilities with a combined generating capacity of approximately 688 megawatts for a cash consideration of approximately $566 million, plus working capital of $32 million and the assumption of debt and related interest rate swaps of approximately $142 million.

After Thursday’s repayment, the outstanding balance of the revolver is about $290 million.

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

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