NextEra Energy Partners (NEP) Announces 10.4M Common Units Offering
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NextEra Energy Partners, LP (NYSE: NEP) announced that it has entered into an agreement with six financial institutions to sell 10,402,000 newly issued common units representing limited partner interests in NextEra Energy Partners, subject to customary conditions. The underwriters have a 30-day option to purchase up to an additional 1,560,300 common units from NextEra Energy Partners.
NextEra Energy Partners intends to use the net proceeds of the offering to fund its recently announced acquisition of an indirect 24 percent interest in Desert Sunlight Investment Holdings, LLC and for general partnership purposes.
BofA Merrill Lynch, Morgan Stanley & Co. LLC, UBS Investment Bank and Wells Fargo Securities are acting as joint book-running managers for the offering, and Deutsche Bank Securities and J.P. Morgan Securities LLC are acting as co-managers.
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