June 19, 2014
NextEra Energy, Inc. (NYSE: NEE) announced that its wholly owned subsidiary, NextEra Energy Partners, LP (NEP), has commenced an initial public offering of its common units representing limited partner interests. NEP is offering 16,250,000 common units to the public. In addition, the underwriters have a 30-day option to purchase up to an additional 2,437,500 common units from NextEra Energy Partners at the initial public offering price, less the underwriting discount. The initial public offering price is currently expected to be between $19.00 and $21.00 per common unit. The common units of NextEra Energy Partners have been approved for listing on the New York Stock Exchange under the symbol "NEP."
NextEra Energy Partners intends to use a portion of the net proceeds of this offering to purchase the common units of NextEra Energy Operating Partners, LP, which is the entity that holds NEP's project assets. NextEra Energy Operating Partners, LP will use such net proceeds for general corporate purposes, including funding future acquisition opportunities.
BofA Merrill Lynch and Goldman, Sachs & Co. are acting as joint book-running managers and structuring agents for the offering, and Morgan Stanley is acting as a joint book-running manager for the offering.
The proposed offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus related to the offering may be obtained from: BofA Merrill Lynch at 222 Broadway, New York, NY 10038, Attn: Prospectus Department or by emailing firstname.lastname@example.org; Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New York, NY 10282 or by emailing email@example.com; or Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 or by emailing firstname.lastname@example.org.
The registration statement relating to these securities has been filed with the Securities and Exchange Commission (SEC), but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time when the registration statement becomes effective. Copies of the registration statement can be accessed through the SEC's website at www.sec.gov. This news release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
NextEra Energy Partners, LP
NextEra Energy Partners, LP is a growth-oriented limited partnership formed by NextEra Energy, Inc. (NYSE: NEE), a leading clean energy company, to own, operate and acquire contracted clean energy projects with stable, long-term cash flows. Headquartered in Juno Beach, Fla., NextEra Energy Partners owns interests in wind and solar projects in North America. These renewable energy projects are fully contracted, use industry-leading technology and are located in regions that are favorable for generating energy from the wind and sun.
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For more information:
NextEra Energy, Inc.
700 Universe Blvd
Juno Beach, Florida
United States, 33408-0420