JUNO
BEACH, Fla., July 28,
2023 /PRNewswire/ -- NextEra Energy Capital Holdings,
Inc. today announced that it will conduct a remarketing of its
Series L Debentures due Sept. 1,
2025 (the "Debentures") (CUSIP No. 65339KBS8), which are
currently outstanding in the aggregate principal amount of
$2.0 billion, on Aug. 7, 2023 (and, if necessary, on the following
two business days). The Debentures were originally issued as part
of NextEra Energy, Inc.'s Corporate Units (CUSIP No. 65339F739) on
Sept. 18, 2020 (the "Corporate
Units"), in conjunction with a Purchase Contract Agreement, dated
as of Sept. 1, 2020 (the "Purchase
Contract Agreement"). The Debentures are guaranteed by NextEra
Energy Capital Holdings' parent company, NextEra Energy, Inc.
(NYSE: NEE).
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 Purchase Price and the Remarketing Fee (as those terms
are defined in the Officer's Certificate, dated Sept. 18, 2020, creating the terms of the
Debentures under the Indenture, dated as of June 1, 1999, as amended). The reset interest
rate and the subsequent interest payment dates will be established
on the date of the successful remarketing and become effective on
the third business day following the date of such successful
remarketing. The Remarketing Fee will not exceed 0.25% of the sum
of the Remarketing Treasury Portfolio Purchase Price plus the
Separate Debentures Purchase Price.
Upon a successful remarketing, the proceeds of the
remarketing of the Debentures that are components of the Corporate
Units will be used to purchase a portfolio of U.S. Treasury
securities (or principal or interest strips thereof), or if U.S.
Treasury securities (or principal or interest strips thereof) that
are to be included in such portfolio have a yield that is less than
zero, then, at NextEra Energy Capital Holdings' option, such
portfolio will consist of an amount in cash equal to the aggregate
principal amount at maturity of the applicable U.S. Treasury
securities (or principal or interest strips thereof), which 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, 2023,
pursuant to the Purchase Contract Agreement. 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 such holders.
BofA Securities, Inc. and Barclays Capital Inc. are the
remarketing agents.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any securities, nor shall there be
any sale of securities to which this communication relates in any
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
NextEra Energy, Inc.
NextEra Energy, Inc. (NYSE: NEE)
is a leading clean energy company headquartered in Juno Beach, Florida. NextEra Energy owns
Florida Power & Light Company,
which is America's largest electric utility that sells more power
than any other utility, providing clean, affordable, reliable
electricity to approximately 5.8 million customer accounts, or more
than 12 million people across Florida. NextEra Energy also owns a
competitive clean energy business, NextEra Energy Resources, LLC,
which, together with its affiliated entities, is the world's
largest generator of renewable energy from the wind and sun and a
world leader in battery storage. Through its subsidiaries, NextEra
Energy generates clean, emissions-free electricity from seven
commercial nuclear power units in Florida, New
Hampshire and Wisconsin. A
Fortune 200 company, NextEra Energy has been recognized often by
third parties for its efforts in sustainability, corporate
responsibility, ethics and compliance, and diversity. NextEra
Energy is ranked No. 1 in the electric and gas utilities industry
on Fortune's 2023 list of "World's Most Admired Companies,"
recognized on Fortune's 2021 list of companies that "Change the
World" and received the S&P Global Platts 2020 Energy
Transition Award for leadership in environmental, social and
governance.
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SOURCE NextEra Energy, Inc.