NextEra plans debentures in tranches due 2028, 2030, 2033, 2053

By William Gullotti

Buffalo, N.Y., Feb. 6 – NextEra Energy Capital Holdings Inc. (NEE Capital) is marketing fixed-rate debentures in four parts, according to a 424B5 filing with the Securities and Exchange Commission.

The debentures will be guaranteed by parent NextEra Energy, Inc.

Each tranche of debentures features a make-whole call followed by a par call.

Barclays, Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., SMBC Nikko Securities America, Inc., Wells Fargo Securities, LLC, BNP Paribas Securities Corp., BMO Capital Markets Corp., BNY Mellon Capital Markets, LLC, BofA Securities, Inc., CIBC World Markets Corp., Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Fifth Third Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc., Mizuho Securities USA LLC, PNC Capital Markets LLC, RBC Capital Markets, LLC, Scotia Capital (USA) Inc., TD Securities (USA) LLC, Truist Securities, Inc. and U.S. Bancorp Investments, Inc. are the joint bookrunning managers for the offering.

Bank of New York Mellon is the trustee.

Morgan, Lewis & Bockius LLP and Squire Patton Boggs (US) LLP are co-counsel to the issuer and parent.

Hunton Andrews Kurth LLP is counsel to the underwriters.

Proceeds will be added to the company’s and parent’s respective general funds to fund investments in energy and power projects and for other general corporate purposes, including the repayment of a portion of NEE Capital’s outstanding commercial paper obligations and prefunding the refinancing of a portion of NEE Capital’s debentures maturing in 2023 and term loans maturing in 2023.

As of Feb. 3, NEE Capital had $3.62 billion of outstanding commercial paper obligations, which had maturities of up to 34 days and which had annual interest rates ranging from 4.65% to 4.8%. In addition, as of the same day, NEE Capital had three series of debentures maturing in 2023 that were outstanding in the aggregate principal amount of $3.8 billion with a weighted-average annual interest rate of 2.48%, and seven term loans outstanding maturing in 2023 in an aggregate principal amount of $1.69 billion with a weighted-average annual interest rate of 3.48%.

The energy company is based in Juno Beach, Fla.

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