By Lisa Kerner
Charlotte, N.C., March 25 - NextEra Energy Resources, LLC said its subsidiary Mountain Prairie Wind, LLC sold $305 million in senior secured notes with a maturity of 20 years in a private placement.
The notes bear interest at 6.56% per year and are secured by liens on wind-generation assets and ownership interests in Mountain Prairie Wind.
Proceeds will be used to reimburse, in part, capital contributions made by NextEra, a FPL Group, Inc. subsidiary, to develop and build wind facilities, according to a NextEra news release.
"This transaction marks NextEra Energy Resources' first private placement wind financing since 2006," Armando Pimentel, FPL Group's executive vice president of finance and chief financial officer, said in the release.
Based in Juno Beach, Fla., FPL is an electric power producer.
Mountain Prairie Wind consists of 273.2 megawatts of wind energy projects in Colorado and Oklahoma.
| Issuer: | Mountain Prairie Wind, LLC
|
| Issue: | Senior secured notes
|
| Amount: | $305 million
|
| Maturity: | 20 years
|
| Coupon: | 6.56%
|
| Distribution: | Private placement
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
