NextEra Energy Partners (NEP) Announces 10.4M Common Units Offering

September 8, 2016 4:30 PM EDT

Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.

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.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Equity Offerings

Related Entities

Deutsche Bank, UBS, JPMorgan, Morgan Stanley, Merrill Lynch, Bank of America, Dividend, Wells Fargo, Definitive Agreement

Add Your Comment