10:54 AM EDT, 06/18/2024 (MT Newswires) -- (Adds details in second to sixth paragraphs, share price in last paragraph)

NextEra Energy (NEE) said Tuesday that it has agreed to sell $2.0 billion of equity units to Wells Fargo Securities and BofA Securities.

The deal is expected to close Thursday, the clean energy company said.

With a stated amount of $50, NextEra said each unit represents a contract to purchase NextEra Energy common stock in the future and a 5% undivided beneficial ownership interest in a NextEra Energy Capital Holdings ( NEE ) debenture due June 1, 2029.

The debentures will be guaranteed by parent NextEra Energy.

Unit holders will have until June 1, 2027 to complete the stock purchase, and may fulfill their purchase obligations with proceeds from remarketing of the debentures, NextEra said.

NextEra Capital expects to use the net proceeds of roughly $1.94 billion for investments in energy and power projects and for other general corporate purposes, including debt repayment.

Shares of NextEra Energy fell about 3% in recent trading.

Price: 70.00, Change: -2.31, Percent Change: -3.19