NextEra Energy edges up after $2 bln mandatory convertible sale
NextEra Energy's NEE.N shares up 0.2% at $91.55 after securing capital raise
Florida Power & Light utility parent late Thurs announced sale of $2 bln 3-yr mandatory convertible equity units at $50
Annual distributions on units will be at rate of 7.375%; Higher end of convertible price range of $91.99-$115 represents 25% premium to stock's last NYSE close of $91.99
The adj close for NEE shares on Thurs is $91.37 to reflect stock going ex-dividend (~$0.62) on Fri
NEE shares on Thurs fell 3.3% after co launched offering to fund investments in energy and power projects, and other general purposes, including repayment of commercial paper
Wells Fargo, BofA, Citigroup and Mizuho joint bookrunners
Co has ~$192 bln market cap
Last month, NEE said it's considering nuclear power expansion to deliver electricity to data centers
Through Thurs, shares up ~15% YTD outperforming 10% advance in S&P 500 Utilities index .SPLRCU. Stock hit record intraday high of $95.91 on Weds
Avg rating of 26 analysts is "buy"; median PT $95, per LSEG data
