JUNO BEACH, Fla., Feb. 16, 2023 /PRNewswire/ -- NextEra Energy Capital Holdings, Inc. today announced that it will conduct a remarketing of its Series K Debentures due March 1, 2025 (the "Debentures") (CUSIP No. 65339KBP4), which are currently outstanding in the aggregate principal amount of $2.5 billion, on Feb. 22, 2023 (and, if necessary, on the following two business days). The Debentures were originally issued as part of NextEra Energy, Inc.'s Corporate Units (CUSIP No. 65339F770) on Feb. 21, 2020 (the "Corporate Units") in conjunction with a Purchase Contract Agreement, dated as of Feb. 1, 2020 (the "Purchase Contract Agreement"). The Debentures are guaranteed by NextEra Energy Capital Holdings' parent company, NextEra Energy, Inc. (NYSE: NEE).
If the remarketing is successful, the interest rate on the Debentures will be reset to a rate that will enable the Debentures to be remarketed at a price equal to or greater than the sum of 100% of the aggregate principal amount of the Debentures being remarketed and the Remarketing Fee (as this term is defined in the Officer's Certificate, dated Feb. 21, 2020, creating the terms of the Debentures under the Indenture, dated as of June 1, 1999, as amended). The reset interest rate and the subsequent interest payment dates will be established on the date of the successful remarketing and become effective on March 1, 2023. The Remarketing Fee will not exceed 0.25% of the aggregate principal amount of the Debentures being remarketed.
Upon a successful remarketing, the proceeds of the remarketing of the Debentures that are components of the Corporate Units equal to the aggregate principal amount of such Debentures will be applied to satisfy in full the obligation of the holders of the Corporate Units to purchase NextEra Energy common stock on March 1, 2023, pursuant to the Purchase Contract Agreement. The proceeds from the remarketing of any Debentures that are not a component of the Corporate Units and whose holders elect to include some or all of those Debentures in the remarketing will be paid to such holders.
J.P. Morgan Securities LLC, Wells Fargo Securities, LLC and BofA Securities, Inc. are the remarketing agents.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities to which this communication relates in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
The issuer has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before a prospective purchaser invests in the Debentures, such person should read the prospectus in that registration statement and the related prospectus supplement to be filed with the SEC and other documents the issuer has filed with the SEC for more complete information about the issuer and the offering to which this communication relates. A prospective purchaser may get these documents when available for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the issuer or the remarketing agents will arrange to send a prospective purchaser the prospectus and the related prospectus supplement if such person request it by calling J.P. Morgan Securities LLC collect at 1-212-834-4533, Wells Fargo Securities, LLC toll-free at 1-800-645-3751 and BofA Securities, Inc. toll-free at 1-800-294-1322.
NextEra Energy, Inc.
NextEra Energy, Inc. (NYSE: NEE) is a leading clean energy company headquartered in Juno Beach, Florida. NextEra Energy owns Florida Power & Light Company, which is America's largest electric utility that sells more power than any other utility, providing clean, affordable, reliable electricity to approximately 5.8 million customer accounts, or more than 12 million people across Florida. NextEra Energy also owns a competitive clean energy business, NextEra Energy Resources, LLC, which, together with its affiliated entities, is the world's largest generator of renewable energy from the wind and sun and a world leader in battery storage. Through its subsidiaries, NextEra Energy generates clean, emissions-free electricity from seven commercial nuclear power units in Florida, New Hampshire and Wisconsin. NextEra Energy has been recognized often by third parties for its efforts in sustainability, corporate responsibility, ethics and compliance, and diversity. NextEra Energy is ranked No. 1 in the electric and gas utilities industry on Fortune's 2023 list of "World's Most Admired Companies," recognized on Fortune's 2021 list of companies that "Change the World" and received the S&P Global Platts 2020 Energy Transition Award for leadership in environmental, social and governance.
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SOURCE NextEra Energy, Inc.
