NextEra Energy has agreed to sell $1.5bn of equity units to Goldman Sachs, Credit Suisse and Mizuho Securities to help fund investments in new power projects and for other “corporate purposes”.
The deal is expected to close on 8 August.
NextEra said each equity unit of $50 will consist of a contract to purchase the company’s common stock in the future.
The units will also include a 5% undivided beneficial ownership interest in a NextEra Energy Capital Holdings debenture due on 1 September 2021 to be issued in the principal amount of $1000, the company said.
Each stock purchase contract will require the holder to purchase NextEra Energy common stock for cash on a per-share price range of $127.63 to $159.54.
NextEra said the higher end figure reflects a premium of 25% above the New York Stock Exchange closing price of the company’s common stock on 2 August.
The holders must complete the stock purchase no later than 1 September 2019, it added.
Image: NextEra
