NextEra to repay $450 million of borrowings under its revolver

By Rebecca Melvin

New York, June 24 – NextEra Energy Operating Partners LP plans to redeem $450 million of borrowings under its revolving credit facility with proceeds of a private offering of $700 million of senior notes due 2024, according to a company news release.

Any remaining proceeds are expected to be used for general partnership purposes, which may include the purchase of up to $240 million of outstanding 5.6% senior secured notes issued by Genesis Solar Funding LLC, an indirect subsidiary of NextEra OpCo.

Those notes are being paid under a cash tender offer that began June 17.

NextEra OpCo is a subsidiary of NextEra Energy Partners LP, an energy company based in Juno Beach, Fla.

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