Florida Power & Light Company, a subsidiary of NextEra Energy Inc (NYSE:NEE)., has successfully sold $167.1 million in floating rate notes due on July 2, 2074, according to a filing with the U.S. Securities and Exchange Commission today. The notes will bear interest based on the Compounded Secured Overnight Financing Rate (SOFR) minus 0.35%, with the rate being recalculated quarterly.
The recent transaction was registered under the Securities Act of 1933, as stated in the SEC Form 8-K report. The legal opinions and consents from Squire Patton Boggs (US) LLP and Morgan, Lewis & Bockius LLP regarding the notes were also filed as part of the exhibits in the report. These documents confirm the legality of the issuance and provide assurance regarding the notes' compliance with applicable laws.
NextEra Energy Inc., listed on the New York Stock Exchange under the ticker symbol NYSE:NEE, and its subsidiaries, including Florida Power & Light Company, are primarily engaged in the electric services industry. The sale of these notes is part of the company’s financial activities to support its operations and investments.
In other recent news, NextEra Energy Inc. and its subsidiary, Florida Power & Light Company, issued $167,105,000 in floating rate notes due in 2074. This strategic financial move features a novel interest rate structure pegged to the Compounded Secured Overnight Financing Rate (SOFR) minus 0.35%, recalculated quarterly. NextEra Energy Partners has also announced a series of investor meetings scheduled for June to discuss the company's long-term growth expectations.
Several major financial institutions have adjusted their price targets for NextEra Energy. BofA Securities raised its target to $74.00, BMO Capital Markets to $79.00, Evercore ISI to $75.00, RBC Capital to $84.00, and Goldman Sachs to $81.00. These adjustments follow NextEra Energy's extension of its earnings per share (EPS) growth guidance through 2027, targeting a 6-8% increase based on a 2024 base year.
Furthermore, NextEra Energy has announced significant changes in its executive team, with Kirk Crews transitioning to the role of Executive Vice President and Chief Risk Officer, and Brian Bolster taking over as the new Executive Vice President and Chief Financial Officer. These are among the recent developments for NextEra Energy.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.