Hunton & Williams LLP advised the underwriters for the sale of $1.5 billion of equity units of NextEra Energy, Inc. (NEE). Each equity unit consisted of a purchase contract issued by NEE and initially a 5% undivided beneficial ownership interest in a Series I Debenture due September 1, 2021 issued in the principal amount of $1,000 by NextEra Energy Capital Holdings, Inc. (NEE Capital), a wholly-owned subsidiary of NEE.
NEE, with approximately 46,400 MW of generating capacity, is one of the largest electric power companies in North America with electric generating facilities located in 27 states in the United States and 4 provinces in Canada, and employing approximately 14,300 people as of year-end 2015. Headquartered in Juno Beach, Fla., NEE conducts its operations principally through two wholly owned subsidiaries, Florida Power & Light Company (FPL) and NextEra Energy Resources, LLC (NEER). NEE Capital, another wholly-owned subsidiary of NEE, owns and provides funding for NEER’s and NEE’s operating subsidiaries, other than FPL and its subsidiaries. NEE provides retail and wholesale electric services to over 5.3 million customers and owns generation, transmission and distribution facilities to support its services, as well as has investments in gas infrastructure assets. Additionally, NEE is the largest generator in North America of renewable energy from the wind and sun.
The Hunton & Williams LLP team included Dee Ann Dorsey, Steve Friend and Patrick Jamieson. Cary Tolley provided tax advice.