NextEra Energy Partners prices $500M 2.50% convertible senior notes due 2026

XPLR Infrastructure, LP

Notes carry 2.50% annual interest, semi-annual payments; mature June 15, 2026.
Initial conversion premium of ~20% over Dec. 7 closing price of $79.11/unit.
Net proceeds ~$488.8M to fund portion of 1,080-MW renewable portfolio acquisition.
Capped call transactions entered with lower strike $94.93 and cap $118.67 per unit.
Offering expected to close Dec. 12, 2022; guaranteed by NextEra Energy Operating Partners.

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