Company subsidiary also gets $313 million one-year term loan facility
By Devika Patel
Knoxville, Tenn., May 7 – NextEra Energy Partners, LP said it will raise $108.65 million in a private placement of common units.
The company will sell 2,594,948 common units. The purchase price of $41.87 per unit is a 2.8% discount to the May 6 closing unit price of $29.97.
The company also said its subsidiary NextEra Energy US Holdings Partners, LLC has taken on a $313 million one-year term loan facility.
Proceeds of both financings will be used to acquire about 664 megawatts of operating renewable power generation assets from NextEra Energy Resources, LLC for about $412 million and for general purposes.
NextEra Energy Partners is a Juno Beach, Fla.-based limited partnership formed by NextEra Energy, Inc. to own, operate and acquire contracted clean energy projects through its limited partner interest in NextEra Energy Operating Partners, LP.
| Issuer: | NextEra Energy Partners, LP
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| Issue: | Common units
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| Amount: | $108,650,473
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| Units: | 2,594,948
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| Price: | $41.87
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| Warrants: | No
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| Pricing date: | May 7
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| Stock symbol: | NYSE: NEP
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| Stock price: | $41.87 at close May 6
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| Market capitalization: | $772.83 million
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