$400 million raised by NextEra Energy Inc through bond sale- PEG

The producer of wind and solar energy, NextEra Energy, Inc. (NYSE:NEE), has issued 30-year first-mortgage bonds for $400 million.

NextEra Energy, Inc. (NYSE:NEE) effected the sale of 3.8 percent securities and managed to yield more basis points than any such treasuries with similar maturity by 92 basis points. The entire money raised by the sale of these bonds will be utilized in making payment against the open debt that exists currently and for wide-ranging corporate reasons. This was advised by someone recognizable with the operation of the transaction in discussion.

The subsidiary of Florida had sole debt earlier in May. At that point in time, it issued 30-year debentures of 4.05 percent at $600 million. This was affected at 100 basis points relative yield. As per Trace, the Financial Industry Regulatory Authority’s reporting system of bond-price, on November 29; the trade of these bonds took place at 106.6 cents on the dollar and yielded 3.68 percent. An 88.7 basis points spread was noticed here.

As per a source, the Moody’s Investors Service may rate these fresh bonds at Aa3. The source is quite reliable and is aware of the details but the name is not disclosed because the person does not hold the authority to make any announcement related to the company to the general public.

As per the 15+ Year US Utility index by Bank of America Merrill Lynch, on December 14, the Public Service Enterprise Group Inc. (NYSE:PEG)’s debt of long maturity had achieved spread on an average to 147 basis points. It is based at New Jersey as a utility provider. During the time of Hurricane Sandy, there were 1.7 million customers of Public Service Enterprise Group Inc. (NYSE:PEG) who were left without the power supply. The rating provided by Fitch Ratings to Public Service Enterprise Group Inc. (NYSE:PEG) is the rating of BBB+ senior unsecured debt.

Shares of NextEra Energy, Inc. (NYSE:NEE) were down by 0.45% to close at $70.57

Shares of Public Service Enterprise Group Inc. (NYSE:PEG) were down by 0.77% to close at $30.74.

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Published by Donna Fago

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