NextEra Energy Partners to price $600 million five-year convertibles

By Abigail W. Adams

Portland, Me., Nov. 30 – NextEra Energy Partners LP plans to price $600 million of five-year convertible notes in a Rule 144A offering, according to a company news release.

The notes will be settled in cash, common units or a combination of cash and common units.

In connection with the offering, the company will enter into capped call transactions.

Proceeds will be used to cover the cost of the call spread and redeem a portion of its 4.25% convertible notes due 2024.

Further details were not available at press time.

NextEra Energy Partners is a Juno Beach, Fla.-based limited partnership formed by NextEra Energy to acquire and manage clean energy projects.

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