NextEra Energy Partners $500 million convertible senior notes offering
The 2.5% convertible senior notes are due 2026
Davis Polk acted as special product counsel to the initial purchaser in connection with a Rule 144A offering by NextEra Energy Partners, LP of an aggregate principal amount of $500 million of its 2.50% convertible senior notes due 2026. In addition, Davis Polk advised counterparties to capped call transactions in connection with the convertible notes offering.
Headquartered in Juno Beach, Florida, NextEra Energy Partners is a growth-oriented limited partnership formed to acquire, manage and own contracted clean energy projects with stable long-term cash flows. Through its subsidiaries, NextEra Energy Partners owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as contracted natural gas pipeline assets.
The Davis Polk equity derivatives team included partner Mark J. DiFiore and associates Danielle Forni, Lindsey B. Meyers-Perez and Kanger Jin. The tax team included partner Michael Farber and associate Ted Lee. All members of the Davis Polk team are based in the New York office.