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Alliance Trust places £100 million 15-year notes; NextEra unit issues $280 million notes
By Lisa Kerner
Charlotte, N.C., June 18 – Alliance Trust plc agreed to privately place £100 million of fixed-rate 15-year notes with a coupon of 4.28%.
The funding date is expected to be July 31, according to a company news release.
The principal repayment date will be July 31, 2029.
Proceeds will be used to retire £100 million of the company's existing £380 million gearing.
Alliance Trust is an investment and savings business based in Dundee, Scotland.
NextEra Energy Resources, LLC subsidiary Genesis Solar Funding, LLC issued $280 million of 5.6% limited-recourse senior secured amortizing notes maturing in September 2038 on Friday.
Principal and interest on the notes are payable semiannually, according to an 8-K filing with the Securities and Exchange Commission.
Genesis used the proceeds primarily to reimburse affiliates for a portion of the costs associated with the construction of a solar thermal generating facility in California. Proceeds were also used to fund distributions to NextEra Energy Resources, which NextEra Energy Resources will use for general corporate purposes.
NextEra Energy Resources is an indirect wholly owned subsidiary of NextEra Energy, Inc., a Juno Beach, Fla.-based power generation and transmission company.
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