NextEra to remarket $350 million series C debentures due 2014

By Jennifer Chiou

New York, May 8 - NextEra Energy Capital Holdings, Inc. announced that it will conduct a remarketing of its $350 million of series C debentures due June 1, 2014 on May 16.

According to a news release, the debentures were originally issued as part of parent NextEra Energy, Inc.'s corporate units on May 26, 2009.

Credit Suisse Securities (USA) LLC is the remarketing agent.

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 the sum of the remarketing treasury portfolio purchase price, the separate debentures purchase price and the remarketing fee.

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

The remarketing fee will be up to 0.25% of the sum of the remarketing treasury portfolio purchase price and the separate debentures purchase price.

The proceeds of the remarketing, if completed, will be used to purchase a portfolio of Treasury securities, which will be substituted for the debentures and pledged to secure the corporate units holders' obligation to purchase NextEra Energy common stock on June 1.

Based in Juno Beach, Fla., NextEra is power generation and transmission company.

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