NextEra Energy announces sale of equity units
NextEra Energy (NYSE: NEE) has announced a $1.5 billion equity units sale to J.P. Morgan, Mizuho and Goldman Sachs, expected to close on Oct. 31, 2024. Each $50 equity unit includes a future stock purchase contract and a 5% ownership interest in a debenture due Nov. 1, 2029, with total annual distributions of 7.234%. The stock purchase contracts require holders to buy NEE common stock in approximately three years at $82.87-$103.58 per share. The net proceeds of approximately $1.45 billion will fund energy projects and general corporate purposes, including commercial paper repayment.
NextEra Energy (NYSE: NEE) ha annunciato una vendita di unità azionarie del valore di 1,5 miliardi di dollari a J.P. Morgan, Mizuho e Goldman Sachs, prevista per la chiusura il 31 ottobre 2024. Ogni unità azionaria da 50 dollari comprende un contratto di acquisto azionario futuro e un interesse di proprietà del 5% in un'obbligazione con scadenza il 1 novembre 2029, con distribuzioni annuali totali del 7,234%. I contratti di acquisto azionario richiedono ai detentori di acquistare azioni ordinarie NEE circa tra tre anni a un prezzo compreso tra 82,87 e 103,58 dollari per azione. I proventi netti di circa 1,45 miliardi di dollari saranno utilizzati per finanziare progetti energetici e scopi aziendali generali, inclusa la restituzione di carta commerciale.
NextEra Energy (NYSE: NEE) ha anunciado la venta de unidades de capital por 1.5 mil millones de dólares a J.P. Morgan, Mizuho y Goldman Sachs, que se espera cierre el 31 de octubre de 2024. Cada unidad de 50 dólares incluye un contrato de compra de acciones en el futuro y un interés de propiedad del 5% en un bono con vencimiento el 1 de noviembre de 2029, con distribuciones anuales totales del 7.234%. Los contratos de compra de acciones requieren que los tenedores compren acciones ordinarias de NEE en aproximadamente tres años a un precio de entre 82.87 y 103.58 dólares por acción. Los ingresos netos de aproximadamente 1.45 mil millones de dólares se destinarán a financiar proyectos energéticos y a fines corporativos generales, incluyendo el pago de papel comercial.
NextEra Energy (NYSE: NEE)는 J.P. Morgan, Mizuho 및 Goldman Sachs에 15억 달러 규모의 주식 단위 판매를 발표했으며, 이는 2024년 10월 31일에 마감될 것으로 예상됩니다. 각 50달러의 주식 단위는 향후 주식 구매 계약과 2029년 11월 1일 만기의 채권에 대한 5%의 소유권 이자를 포함하고 있으며, 총 연간 배당률은 7.234%입니다. 주식 구매 계약은 보유자에게 약 3년 후 NEE 보통주를 주당 82.87~103.58달러에 구매하도록 요구합니다. 약 14억 5천만 달러의 순수익은 에너지 프로젝트 및 일반 기업 목적에 사용되며, 상업 어음 상환을 포함합니다.
NextEra Energy (NYSE: NEE) a annoncé la vente d'unités d'actions d'une valeur de 1,5 milliard de dollars à J.P. Morgan, Mizuho et Goldman Sachs, dont la clôture est prévue pour le 31 octobre 2024. Chaque unité d'action de 50 dollars comprend un contrat d'achat d'actions futur et un intérêt de propriété de 5 % dans une obligation arrivée à échéance le 1er novembre 2029, avec des distributions annuelles totales de 7,234 %. Les contrats d'achat d'actions exigent des détenteurs qu'ils achètent des actions ordinaires NEE dans environ trois ans à un prix compris entre 82,87 et 103,58 dollars par action. Les produits nets d'environ 1,45 milliard de dollars seront utilisés pour financer des projets énergétiques et des objectifs d'entreprise généraux, y compris le remboursement de papier commercial.
NextEra Energy (NYSE: NEE) hat den Verkauf von Eigenkapitaleinheiten in Höhe von 1,5 Milliarden Dollar an J.P. Morgan, Mizuho und Goldman Sachs angekündigt, dessen Abschluss für den 31. Oktober 2024 erwartet wird. Jede Eigenkapitaleinheit im Wert von 50 Dollar umfasst einen zukünftigen Aktienkaufvertrag und einen Besitzanteil von 5% an einer Schuldverschreibung, die am 1. November 2029 fällig ist, mit Gesamtausschüttungen von 7,234% pro Jahr. Die Aktienkaufverträge verlangen von den Inhabern, dass sie innerhalb von etwa drei Jahren NEE-Stammaktien zu einem Preis von 82,87 bis 103,58 Dollar pro Aktie kaufen. Der Nettoerlös von etwa 1,45 Milliarden Dollar wird zur Finanzierung von Energieprojekten und allgemeinen Unternehmenszwecken verwendet, einschließlich der Rückzahlung von kurzfristigen Schuldtiteln.
- Secured $1.5 billion in financing through equity units sale
- Premium pricing of up to 25% over current stock price for future stock purchases
- Guaranteed debentures backed by parent company NextEra Energy
- Potential future dilution of existing shareholders when stock purchase contracts are executed
- High distribution rate of 7.234% indicates significant financing cost
- Partial use of proceeds for debt repayment rather than pure growth investment
Insights
This
The structure allows NEE to defer dilution while securing funding for energy projects and debt reduction. The
The net proceeds from the sale of the equity units, which are expected to be approximately
Each equity unit will be issued in a stated amount of
In approximately three years, each stock purchase contract will require the holder to purchase NextEra Energy common stock for cash, based on a per-share price range of
Upon settlement of the purchase contract, NextEra Energy will receive cash and will issue the requisite number of shares of its common stock. Before the issuance of NextEra Energy common stock upon settlement of the purchase contracts, the purchase contracts will be reflected in NextEra Energy's diluted earnings per share calculations using the treasury stock method.
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 offering may be made only by means of a prospectus and the related prospectus supplement, copies of which may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
NextEra Energy, Inc.
NextEra Energy, Inc. (NYSE: NEE) is a leading clean energy company headquartered in
Cautionary Statements and Risk Factors That May Affect Future Results
This news release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, but instead represent the current expectations of NextEra Energy, Inc. (together with its subsidiaries, NextEra Energy) regarding future operating results and other future events, many of which, by their nature, are inherently uncertain and outside of NextEra Energy's control. In some cases, you can identify the forward-looking statements by words or phrases such as "will," "may result," "expect," "anticipate," "believe," "intend," "plan," "seek," "potential," "projection," "forecast," "predict," "goals," "target," "outlook," "should," "would" or similar words or expressions. You should not place undue reliance on these forward-looking statements, which are not a guarantee of future performance. The future results of NextEra Energy and its business and financial condition are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, or may require it to limit or eliminate certain operations. These risks and uncertainties include, but are not limited to, those discussed in this news release and the following: effects of extensive regulation of NextEra Energy's business operations; inability of NextEra Energy to recover in a timely manner any significant amount of costs, a return on certain assets or a reasonable return on invested capital through base rates, cost recovery clauses, other regulatory mechanisms or otherwise; impact of political, regulatory, operational and economic factors on regulatory decisions important to NextEra Energy; effect of any reductions or modifications to, or elimination of, governmental incentives or policies that support utility scale renewable energy projects or the imposition of additional tax laws, tariffs, duties, policies or assessments on renewable energy or equipment necessary to generate it or deliver it; impact of new or revised laws, regulations, interpretations or constitutional ballot and regulatory initiatives on NextEra Energy; capital expenditures, increased operating costs and various liabilities attributable to environmental laws, regulations and other standards applicable to NextEra Energy; effects on NextEra Energy of federal or state laws or regulations mandating new or additional limits on the production of greenhouse gas emissions; exposure of NextEra Energy to significant and increasing compliance costs and substantial monetary penalties and other sanctions as a result of extensive federal regulation of its operations and businesses; effect on NextEra Energy of changes in tax laws, guidance or policies as well as in judgments and estimates used to determine tax-related asset and liability amounts; impact on NextEra Energy of adverse results of litigation; impacts of NextEra Energy of allegations of violations of law; effect on NextEra Energy of failure to proceed with projects under development or inability to complete the construction of (or capital improvements to) electric generation, transmission and distribution facilities, gas infrastructure facilities or other facilities on schedule or within budget; impact on development and operating activities of NextEra Energy resulting from risks related to project siting, planning, financing, construction, permitting, governmental approvals and the negotiation of project development agreements, as well as supply chain disruptions; risks involved in the operation and maintenance of electric generation, storage, transmission and distribution facilities, gas infrastructure facilities, and other facilities; effect on NextEra Energy of a lack of growth, slower growth or a decline in the number of customers or in customer usage; impact on NextEra Energy of severe weather and other weather conditions; threats of terrorism and catastrophic events that could result from geopolitical factors, terrorism, cyberattacks or other attempts to disrupt NextEra Energy's business or the businesses of third parties; inability to obtain adequate insurance coverage for protection of NextEra Energy against significant losses and risk that insurance coverage does not provide protection against all significant losses; a prolonged period of low gas and oil prices could impact NextEra Energy's gas infrastructure business and cause NextEra Energy to delay or cancel certain gas infrastructure projects and could result in certain projects becoming impaired; risk of increased operating costs resulting from unfavorable supply costs necessary to provide full energy and capacity requirement services; inability or failure to manage properly or hedge effectively the commodity risk within its portfolio; effect of reductions in the liquidity of energy markets on NextEra Energy's ability to manage operational risks; effectiveness of NextEra Energy's risk management tools associated with its hedging and trading procedures to protect against significant losses, including the effect of unforeseen price variances from historical behavior; impact of unavailability or disruption of power transmission or commodity transportation facilities on sale and delivery of power or natural gas; exposure of NextEra Energy to credit and performance risk from customers, hedging counterparties and vendors; failure of counterparties to perform under derivative contracts or of requirement for NextEra Energy to post margin cash collateral under derivative contracts; failure or breach of NextEra Energy's information technology systems; risks to NextEra Energy's retail businesses from compromise of sensitive customer data; losses from volatility in the market values of derivative instruments and limited liquidity in over-the-counter markets; impact of negative publicity; inability to maintain, negotiate or renegotiate acceptable franchise agreements; occurrence of work strikes or stoppages and increasing personnel costs; NextEra Energy's ability to successfully identify, complete and integrate acquisitions, including the effect of increased competition for acquisitions; environmental, health and financial risks associated with ownership and operation of nuclear generation facilities; liability of NextEra Energy for significant retrospective assessments and/or retrospective insurance premiums in the event of an incident at certain nuclear generation facilities; increased operating and capital expenditures and/or reduced revenues at nuclear generation facilities resulting from orders or new regulations of the Nuclear Regulatory Commission; inability to operate any of NextEra Energy's owned nuclear generation units through the end of their respective operating licenses or planned license extensions; effect of disruptions, uncertainty or volatility in the credit and capital markets or actions by third parties in connection with project-specific or other financing arrangements on NextEra Energy's ability to fund its liquidity and capital needs and meet its growth objectives; inability to maintain current credit ratings; impairment of liquidity from inability of credit providers to fund their credit commitments or to maintain their current credit ratings; poor market performance and other economic factors that could affect NextEra Energy's defined benefit pension plan's funded status; poor market performance and other risks to the asset values of nuclear decommissioning funds; changes in market value and other risks to certain of NextEra Energy's investments; effect of inability of NextEra Energy subsidiaries to pay upstream dividends or repay funds to NextEra Energy or of NextEra Energy's performance under guarantees of subsidiary obligations on NextEra Energy's ability to meet its financial obligations and to pay dividends on its common stock; the fact that the amount and timing of dividends payable on NextEra Energy's common stock, as well as the dividend policy approved by NextEra Energy's board of directors from time to time, and changes to that policy, are within the sole discretion of NextEra Energy's board of directors and, if declared and paid, dividends may be in amounts that are less than might be expected by shareholders; NextEra Energy Partners, LP's inability to access sources of capital on commercially reasonable terms could have an effect on its ability to consummate future acquisitions and on the value of NextEra Energy's limited partner interest in NextEra Energy Operating Partners, LP; effects of disruptions, uncertainty or volatility in the credit and capital markets on the market price of NextEra Energy's common stock; and the ultimate severity and duration of public health crises, epidemics and pandemics, and its effects on NextEra Energy's business. NextEra Energy discusses these and other risks and uncertainties in its annual report on Form 10-K for the year ended December 31, 2023 and other Securities and Exchange Commission (SEC) filings, and this news release should be read in conjunction with such SEC filings. The forward-looking statements made in this news release are made only as of the date of this news release and NextEra Energy undertakes no obligation to update any forward-looking statements.
View original content to download multimedia:https://www.prnewswire.com/news-releases/nextera-energy-announces-sale-of-equity-units-302289986.html
SOURCE NextEra Energy, Inc.
FAQ
What is the value of NextEra Energy's (NEE) equity units sale announced in October 2024?
What is the price range for NEE stock purchase contracts in the 2024 equity units offering?
When will NextEra Energy's (NEE) 2024 equity units stock purchase contracts mature?
What is the annual distribution rate for NEE's October 2024 equity units?
