NEXTERA ENERGY INC (NEE): debt financing — NextEra Energy Capital issues $1.0B 3% exchangeable notes due 2027; initial exchange price $68.06

NEXTERA ENERGY INC

$1.0B aggregate principal of 3.00% Exchangeable Senior Notes due March 1, 2027, guaranteed by NextEra Energy (NEE).
Net proceeds ~$990M; $52M used to enter capped call transactions with initial strike $68.06, cap $83.34 per NEE share.
Initial exchange rate 14.6927 shares per $1,000 principal (~$68.06 per share, 22.5% premium over $55.56 close on Feb 27, 2024).
Notes are unsecured, non-redeemable before maturity; holders can require purchase upon fundamental change.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.99

NEXTERA ENERGY INC incurred convertible notes of $1.0 billion in aggregate principal amount with initial purchasers at 3.00% per year, payable semi-annually maturing March 1, 2027.

Instrument: convertible notes
Principal: $1.0 billion in aggregate principal amount
Counterparty: initial purchasers
Rate: 3.00% per year, payable semi-annually
Maturity: March 1, 2027
Event: incurrence

Exact text from the filing

On March 1, 2024, NextEra Energy Capital Holdings, Inc. (NEECH) issued $1.0 billion in aggregate principal amount of its 3.00% Exchangeable Senior Notes due 2027 (the notes) pursuant to an indenture dated as of March 1, 2024 (the indenture) among NEECH, NextEra Energy, Inc. (NEE), NEECH’s corporate parent, as guara ntor, and The Bank of New York Mellon , as trustee.

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Source: SEC EDGAR

accession 0000753308-24-000015

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