NextEra to partly repay term loan borrowings with debenture proceeds

By Sarah Lizee

Olympia, Wash., April 1 – NextEra Energy Capital Holdings Inc. plans to repay a portion of the borrowings under four separate term loan agreements using proceeds from the company’s proposed fixed-to-floating-rate guaranteed debentures due May 1, 2079, according to a 424B5 filing with the Securities and Exchange Commission.

NextEra said it used the facilities to finance a portion of the purchase price paid for the company’s acquisition of Gulf Power on Jan. 1.

The term loan agreements mature on June 25, 2019.

As of Friday, a total of $4.5 billion was outstanding under the loan agreements and the interest rate under each of the loan agreements was 3.0498%.

NextEra will temporarily invest in short-term instruments any proceeds that are not immediately used for the paydown.

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

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