What is the primary purpose of this new loan?

The primary purpose of the Cdn $94.6 million loan is to repay a portion of existing corporate indebtedness of Aquilo's parent, which is guaranteed by FPL Group Capital Inc. This helps to manage and potentially reduce the parent company's debt obligations.

What assets are securing this loan?

The loan is secured by liens on certain Canadian wind generation assets and associated transmission facilities, as well as certain other assets and the ownership interest in Aquilo LP.

Is this loan a direct obligation of NextEra Energy Inc. (NEE)?

No, this is a limited-recourse loan entered into by Aquilo LP, ULC, an indirect wholly-owned subsidiary of NextEra Energy Resources, LLC, which is itself an indirect wholly-owned subsidiary of NextEra Energy, Inc. While it's a subsidiary financing, the 'limited-recourse' nature means NEE's direct financial obligation is limited.

What is the maturity date and repayment structure of the loan?

The loan matures in December 2023. Principal payments are structured to be made semi-annually, and interest payments are made quarterly.

NEXTERA ENERGY INC 8-K: Financial Events

Summary

This 8-K filing from NextEra Energy Inc. (NEE) on January 23, 2009, details a significant financing event for its indirect subsidiary, Aquilo LP, ULC. Aquilo entered into a Canadian $94.6 million (approximately US $75.4 million) limited-recourse senior secured term loan agreement, with funds drawn on January 22, 2009, maturing in December 2023. This transaction is structured to utilize specific Canadian wind generation assets as collateral, reinforcing the company's strategy in renewable energy infrastructure.

Key Highlights

1Aquilo LP, a NextEra Energy Resources subsidiary, secured a Cdn $94.6 million term loan.
2The loan matures in December 2023.
3Proceeds will be used to repay existing corporate indebtedness of Aquilo's parent.
4The loan is secured by Canadian wind generation assets and associated transmission facilities.
5The loan is a limited-recourse, senior secured, variable rate facility.
6The principal is payable semi-annually, and interest is payable quarterly.

NEXTERA ENERGY INC 8-K Report, Financial Obligation (Jan 23, 2009)

Summary

Key Highlights

Frequently Asked Questions