Hunton Andrews Kurth advised the underwriters on the deal.
NextEra Energy Capital Holdings, Inc. (NEE Capital) announced the offering of (i) $750 million aggregate principal amount of 4.20% Debentures, Series due June 20, 2024 (the “2024 Debentures”), (ii) $1 billion aggregate principal amount of 4.45% Debentures, Series due June 20, 2025 (the “2025 Debentures”), (iii) $1.25 billion aggregate principal amount of 4.625% Debentures, Series due July 15, 2027 (the “2027 Debentures”) and (iv) $1 billion aggregate principal amount of 5.00% Debentures, Series due July 15, 2032 (the “2032 Debentures” and together with the 2024 Debentures, the 2025 Debentures and the 2027 Debentures, the “Debentures”). The Debentures are fully and unconditionally guaranteed by NextEra Energy, Inc. (NEE), the parent company of NEE Capital. The transaction closed June 23, 2022.
NEE Capital owns and provides funding for all of NEE’s operating subsidiaries other than Florida Power & Light Company (“FPL”) and FPL’s subsidiaries. NEE is a holding company which conducts its operations principally through its wholly owned subsidiaries, FPL and, indirectly through NEE Capital, NextEra Energy Resources, LLC and NextEra Energy Transmission, LLC (collectively “NEER”). FPL is a rate-regulated electric utility engaged primarily in the generation, transmission, distribution and sale of electric energy in Florida. NEER currently owns, develops, constructs, manages and operates electric generation facilities in wholesale energy markets in the U.S. and Canada. NEER produces the majority of its electricity from clean and renewable sources, including wind and solar. In addition, NEER develops and constructs battery storage projects and also owns, develops, constructs and operates rate-regulated transmission facilities in North America, and transmission lines that connect its electric generation facilities to the electric grid. NEER also engages in energy-related commodity marketing and trading activities and participates in natural gas, natural gas liquids and oil production and in pipeline infrastructure, construction, management and operations.
The underwriters included: BofA Securities, Citigroup, J.P. Morgan, Wells Fargo Securities,
BMO Capital Markets, BNP PARIBAS, CIBC Capital Markets, Fifth Third Securities, Goldman Sachs & Co. LLC, KeyBanc Capital Markets, MUFG, PNC Capital Markets LLC, RBC Capital Markets, Regions Securities LLC, Santander, Scotiabank, SMBC Nikko, Truist Securities and US Bancorp.
The Hunton Andrews Kurth team included Steven C. Friend (Picture), Brendan P. Harney, Michelle G. Chan, Reuben H. Pearlman and Alice Yao. Robert McNamara and Tim Strother provided tax advice.
The Hunton Andrews Kurth team included Steven C. Friend, Brendan P. Harney, Michelle G. Chan, Reuben H. Pearlman and Alice Yao. Robert McNamara and Tim Strother provided tax advice.
Involved fees earner: Michelle Chan – Hunton Andrews Kurth LLP; Steven Friend – Hunton Andrews Kurth LLP; Brendan Harney – Hunton Andrews Kurth LLP; Robert McNamara – Hunton Andrews Kurth LLP; Reuben Pearlman – Hunton Andrews Kurth LLP; Tim Strother – Hunton Andrews Kurth LLP;
Law Firms: Hunton Andrews Kurth LLP;
Clients: Bank of America Securities; BMO Capital Markets; BNP Paribas; CIBC Capital Markets; Citigroup Inc.; Fifth Third Securities, Inc.; Goldman Sachs & Co.; J.P. Morgan Securities LLC; KeyBanc Capital Markets; MUFG; PNC Capital Markets LLC; RBC Capital Markets; Regions Securities LLC; Santander; Scotiabank; SMBC Nikko Securities America; Truist Securities Inc. ; US Bancorp; Wells Fargo Securities;
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