JUNO BEACH, Fla., Sept. 4, 2019 /PRNewswire/ -- NextEra Energy,
Inc. (NYSE: NEE) announced today that it intends to sell
$1.5 billion of equity
units.
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, Inc. debenture due Sept. 1, 2024, to be issued in the principal
amount of $1,000. The debentures will
be guaranteed by NextEra Energy Capital Holdings' parent company,
NextEra Energy, Inc.
The holders would be required to complete the stock purchase by
no later than Sept. 1, 2022, and
their purchase obligations may be satisfied with proceeds raised
from remarketing the debentures that comprise part of their equity
units.
The net proceeds from the sale of the equity units, which are
expected to be approximately $1.45
billion (after deducting the underwriting discount and other
offering expenses), will be added to the general funds of NextEra
Energy Capital Holdings. NextEra Energy Capital Holdings expects to
use its general funds to fund investments in energy and power
projects and for other general corporate purposes, including the
repayment of all or a portion of NextEra Energy Capital Holdings'
outstanding commercial paper obligations.
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 NextEra Energy,
Inc., Investor Relations, telephone (561) 694-4697.
NextEra Energy, Inc.
NextEra Energy, Inc. (NYSE: NEE)
is a leading clean energy company headquartered in Juno Beach, Florida. NextEra Energy owns two
electric companies in Florida:
Florida Power & Light Company,
which serves more than 5 million customer accounts in Florida and is the largest rate-regulated
electric utility in the United
States as measured by retail electricity produced and sold;
and Gulf Power Company, which serves more than 460,000 customers in
eight counties throughout northwest Florida. NextEra Energy also
owns a competitive energy business, NextEra Energy Resources, LLC,
which, together with its affiliated entities, is the world's
largest generator of renewable energy from the wind and sun and a
world leader in battery storage. Through its subsidiaries, NextEra
Energy generates clean, emissions-free electricity from eight
commercial nuclear power units in Florida, New
Hampshire, Iowa and
Wisconsin. A Fortune 200 company
and included in the S&P 100 index, NextEra Energy has been
recognized often by third parties for its efforts in
sustainability, corporate responsibility, ethics and compliance,
and diversity. NextEra Energy is ranked No. 1 in the electric and
gas utilities industry on Fortune's 2019 list of "World's Most
Admired Companies" and ranked among the top 25 on Fortune's 2018
list of companies that "Change the World."
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. (NextEra Energy) and
Florida Power & Light Company
(FPL) regarding future operating results and other future events,
many of which, by their nature, are inherently uncertain and
outside of NextEra Energy's and FPL's control. Forward-looking
statements in this news release include, among others, statements
concerning adjusted earnings per share expectations and future
operating performance, statements concerning future dividends, and
results of acquisitions. 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 FPL and their
business and financial condition are subject to risks and
uncertainties that could cause their actual results to differ
materially from those expressed or implied in the forward-looking
statements, or may require them to limit or eliminate certain
operations. These risks and uncertainties include, but are not
limited to, the following: effects of extensive regulation of
NextEra Energy's and FPL's business operations; inability of
NextEra Energy and FPL 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 and economic factors on regulatory
decisions important to NextEra Energy and FPL; disallowance of cost
recovery by FPL based on a finding of imprudent use of derivative
instruments; effect of any reductions or modifications to, or
elimination of, governmental incentives or policies that support
utility scale renewable energy projects of NextEra Energy
Resources, LLC and its affiliated entities (NextEra Energy
Resources) or the imposition of additional tax laws, policies or
assessments on renewable energy; impact of new or revised laws,
regulations, interpretations or ballot or regulatory initiatives on
NextEra Energy and FPL; capital expenditures, increased operating
costs and various liabilities attributable to environmental laws,
regulations and other standards applicable to NextEra Energy and
FPL; effects on NextEra Energy and FPL of federal or state laws or
regulations mandating new or additional limits on the production of
greenhouse gas emissions; exposure of NextEra Energy and FPL to
significant and increasing compliance costs and substantial
monetary penalties and other sanctions as a result of extensive
federal regulation of their operations and businesses; effect on
NextEra Energy and FPL 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 and FPL of
adverse results of litigation; effect on NextEra Energy and FPL 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 and FPL resulting from risks related to project siting,
financing, construction, permitting, governmental approvals and the
negotiation of project development agreements; risks involved in
the operation and maintenance of electric generation, transmission
and distribution facilities, gas infrastructure facilities, retail
gas distribution system in Florida
and other facilities; effect on NextEra Energy and FPL of a lack of
growth or slower growth in the number of customers or in customer
usage; impact on NextEra Energy and FPL of severe weather and other
weather conditions; threats of terrorism and catastrophic events
that could result from terrorism, cyber attacks or other attempts
to disrupt NextEra Energy's and FPL's business or the businesses of
third parties; inability to obtain adequate insurance coverage for
protection of NextEra Energy and FPL 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 Resources' gas infrastructure
business and cause NextEra Energy Resources to delay or cancel
certain gas infrastructure projects and could result in certain
projects becoming impaired; risk to NextEra Energy Resources of
increased operating costs resulting from unfavorable supply costs
necessary to provide NextEra Energy Resources' full energy and
capacity requirement services; inability or failure by NextEra
Energy Resources 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 and FPL's risk
management tools associated with their 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 by NextEra Energy, including FPL; exposure of
NextEra Energy and FPL to credit and performance risk from
customers, hedging counterparties and vendors; failure of NextEra
Energy or FPL counterparties to perform under derivative contracts
or of requirement for NextEra Energy or FPL to post margin cash
collateral under derivative contracts; failure or breach of NextEra
Energy's or FPL's information technology systems; risks to NextEra
Energy and FPL's retail businesses from compromise of sensitive
customer data; losses from volatility in the market values of
derivative instruments and limited liquidity in OTC markets; impact
of negative publicity; inability of NextEra Energy and FPL to
maintain, negotiate or renegotiate acceptable franchise agreements
with municipalities and counties in Florida; 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; the
inability to realize the anticipated benefits of the Gulf Power
Company acquisition; environmental, health and financial risks
associated with NextEra Energy Resources' and FPL's ownership and
operation of nuclear generation facilities; liability of NextEra
Energy and FPL 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 of NextEra Energy or FPL resulting from orders or new
regulations of the Nuclear Regulatory Commission; inability to
operate any of NextEra Energy Resources' or FPL's owned nuclear
generation units through the end of their respective operating
licenses or through expected shutdown; 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 and FPL's ability
to fund their liquidity and capital needs and meet their growth
objectives; inability of NextEra Energy, FPL and NextEra Energy
Capital Holdings, Inc. to maintain their current credit ratings;
impairment of NextEra Energy's and FPL's 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 NextEra Energy's and FPL's 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; NEP'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; and effects of disruptions, uncertainty or volatility
in the credit and capital markets on the market price of NextEra
Energy's common stock. NextEra Energy and FPL discuss these and
other risks and uncertainties in their annual report on Form 10-K
for the year ended December 31, 2018
and other SEC filings, and this news release should be read in
conjunction with such SEC filings made through the date of this
news release. The forward-looking statements made in this news
release are made only as of the date of this news release and
NextEra Energy and FPL undertake no obligation to update any
forward-looking statements.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/nextera-energy-to-sell-equity-units-300911975.html
SOURCE NextEra Energy, Inc.