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NextEra Energy Inc and NextEra Energy Partners announces closing of initial public offering of NextEra Energy Partners, LP


Tuesday, 1 Jul 2014 05:28pm EDT 

NextEra Energy Inc and NextEra Energy Partners:Says NextEra Energy Partners, wholly owned subsidiary of company closes previously announced initial public offering of 16,250,000 common units, at price of $25.00 per common unit.In connection with initial public offering, underwriters have exercised in full their option to purchase an additional 2,437,500 common units from NextEra Energy Partners at the initial public offering price, less the underwriting discount.NextEra Energy Partners received proceeds, net of underwriting discounts and commissions, of about $442.7 mln from the offering.NextEra Energy Partners intends to use portion of the net proceeds of this offering to purchase common units of NextEra Energy Operating Partners, LP, which is the entity that holds NextEra Energy Partners' project assets.NextEra Energy Operating Partners, LP intends to use such net proceeds for general corporate purposes, including funding future acquisition opportunities.NextEra Energy Partners intends to use the remainder of net proceeds of this offering to purchase common units of NextEra Energy Operating Partners from an affiliate of NextEra Energy.BofA Merrill Lynch and Goldman, Sachs & Co. acted as joint book-running managers and structuring agents for the offering, and Morgan Stanley acted as a joint book-running manager for the offering. 

Company Quote

100.83
0.57 +0.57%
4:04pm EDT