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NextEra Energy Plans To Sell $2.0 Bln Of Equity Units

NextEra Energy Inc.(NEE) said Tuesday that it plans to sell $2.0 billion of equity units.

According to the company, 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 debenture due September 1, 2025, to be issued in the principal amount of $1,000.

The debentures will be guaranteed by NextEra Energy Capital Holdings' parent company, NextEra Energy.

The holders would be required to complete the stock purchase by no later than September 1, 2023.

NextEra Energy stated that the net proceeds from the sale of the equity units, which are expected to be about $1.94 billion, will be added to the general funds of NextEra Energy Capital Holdings.

NextEra Energy Capital expects to use its general funds to fund investments in energy and power projects and for other general corporate purposes, including potentially to redeem a portion of its outstanding junior subordinated debentures.

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