NextEra Energy to sell $1.5B of equity units

NextEraEnergy (NYSE:NEE) -2.1% post-market Monday after disclosing plans to sell $1.5B of equity units to fund investments in energy and power projects and for other corporate purposes, including the repayment of part of its outstanding commercial paper obligations.

Each equity unit, to be issued in a stated amount of $50, will consist of a contract to purchase NextEra Energy (NEE) common stock in the future and a 5% undivided beneficial ownership interest in a NextEra Energy Capital Holdings debenture due November 2029, to be issued in the principal amount of $1,000.

In approximately three years, equity unitholders will be required to purchase NextEra Energy (NEE) common stock for cash, based on a range of a 0% to 25% premium over the current NYSE closing price of NextEra (NEE) common stock.