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Nextera Energy Inc Announces Sale Of Equity Units

Friday, 20 Sep 2013 08:00am EDT 

NextEra Energy Inc announced that it has agreed to sell $500 million of equity units to Citigroup, Morgan Stanley, and Credit Suisse. The transaction is expected to close on Sept. 25, 2013. Each equity unit will be issued in a stated amount of $50. Each equity unit will consist of a contract to purchase NextEra Energy common stock in the future, and a 5% undivided beneficial ownership interest in a NextEra Energy Capital Holdings, Inc. debenture due Sept. 1, 2018, to be issued in the principal amount of $1,000. The debentures will be guaranteed by NextEra Energy Capital Holdings' parent company, NextEra Energy, Inc. Total annual distributions on the equity units will be at the rate of 5.799%, consisting of interest on the debentures and payments under the stock purchase contracts. The net proceeds from the sale of the equity units, which are expected to be approximately $484 million (after deducting the underwriting discount and other offering expenses), will be added to the general funds of NextEra Energy Capital Holdings. 

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10 Jul 2014