NextEra to repay revolver, term loan with proceeds from new offering

By Sarah Lizee

Olympia, Wash., Sept. 18 – NextEra Energy Partners, LP plans to pay off the outstanding balance under its revolving credit facility using the proceeds from an offering of $1.1 billion senior notes, according to a press release.

The company also intends to use the proceeds to repay all outstanding debt under each of NextEra Energy Partners US Holdings’ variable rate senior secured term loan agreements.

Any remaining proceeds are expected to be used for general partnership purposes.

NextEra is a Juno Beach, Fla.-based partnership formed by NextEra Energy, Inc. to acquire, manage and own contracted clean energy projects with stable, long-term cash flows.

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