Liquidity

Credit Facility Overview

Credit Facility Overview

NextEra Energy and its subsidiaries require substantial amounts of liquidity to support and grow its businesses. In addition to its strong access to the capital markets, NextEra Energy has partnered with a large and diverse bank group to provide one of the most robust credit facilities in the industry. With credit facilities of roughly $24 billion, NextEra Energy is well positioned to execute on its capital investment plans, through all industry cycles.

$ millions FPL NEECH Total

Corporate credit facilities(1)

- Various maturity dates
(February 2025 to February 2029)

- Syndicated, 41 banks participating

 $2,920 $8,667 $11,588

Global credit facilities

- FPL facility maturity in April 2025

- NEECH facility maturity in
November 2025

- Syndicated, 32 banks participating

 500 2,000 2,500

Bilateral letter of credit facilities(2)

- Various NEECH maturity dates
(November 2024 to September 2027) 

10 individual bilateral facilities 

 - 3,905 3,905

Bilateral revolving credit facilities(3)

- Various FPL facility maturity dates
(December 2024 to February 2027)

- Various NEECH facility maturity dates (December 2024 to August 2027) 

- 31 individual bilateral facilities

 2,580 3,400 5,980
$6,000 $17,972 $23,973

Data as of September 30, 2024

 

1) ~$3,497 million matures in February 2025; $370 million matures in February 2028; and $7,721 million matures in February 2029

2) $1,680 million in bi-lateral letter of credit facilities expire over the next 12 months

3) $5,175 million in bi-lateral revolving credit facilities expire over the next 12 months

Liquidity Highlights

Liquidity Highlights

Successfully extended the term of the core facilities in February 2024

Liquidity Highlights

~$7.7 billion of credit locked in through February 2029

Liquidity Highlights

Largest credit facility in the industry

Corporate Credit Facilities

Corporate Credit Facilities(1)   Color
NEE 24.0 #30a310
Peer A 9.9 #007db6
Peer B 9.2 #007db6
Peer C 9.0 #007db6
Peer D 7.8 #007db6
Peer E 6.5 #007db6
Peer F 6.0 #007db6
Peer G 5.7 #007db6
Peer H 5.0 #007db6
Peer I 4.9 #007db6
Peer J 4.9 #007db6

Source: Bank of America Merrill Lynch for all peer related information as of December 31, 2023; NextEra data as of September 30, 2024

 

Corporate Credit Facilities

Our diverse banking relationships have enabled us to secure ~$52 billion(1) in credit from close to 100 banks that span 22 countries and 5 continents.

(values are in $ billion)

 

1) Reflects current corporate credit facilities, commitments, term loans and current project debt funded or committed as of September 30, 2024

Debt Maturity Profile

We have financed our businesses such that our maturity profile roughly matches our assets’ lives and maturities are highly manageable; we further benefit from continued access to the capital markets.

  • Debt Maturity Profile
  • Peer Comparison
  • Debt Maturity Profile
  • Peer Comparison
  FPL
2024 0
2025 1700
2026 661
2027 328
2028 1992
2029 948
2030 500
2031 0
2032 1500
2033 1943
2034 1518
2035 734
2036 219
2037 668
2038 600
2039 630
2040 625
2041 650
2042 1613
2043 90
2044 729
2045 85
2046 121
2047 760
2048 1555
2049 1576
2050 50
2051 1200
2052 96
2053 750
2057 0
2062 0
2066 0
2067 0
2068 193
2069
 43
2070 320
2071 327
2072 444
2073 486
2077 0
2079 0
2082 0
  Capital Holdings
2024 1516
2025 9673
2026 2192
2027 7440
2028 2750
2029 4381
2030 2428
2031 731
2032 1937
2033 1000
2034 1100
2035 0
2036 0
2037 0
2038 0
2039 0
2040 0
2041 0
2042 0
2043 0
2044 0
2045 0
2046 0
2047 0
2048 0
2049 0
2050 0
2051 0
2052 424
2053 1013
2054 3000 
2057 755
2062 275
2066 319
2067 312
2068 0
2069
 0
2070 0
2071 0
2072 0
2073 0
2077 550
2079 1188
2082 600
  Energy Resources (self-amortizing debt)
2024 35
2025 183
2026 297
2027

1218
2028 2705
2029 375
2030 0
2031 0
2032 547
2033 304
2034 165
2035 85
2036 0
2037 281
2038 1290
2039 47
2040 61
2041 20
2042 1279
2043 0
2044 80
2045 0
2046 0
2047 326
2048 0
2049 295
2050 0
2051 0
2052 145
2053 309
2057 0
2062 0
2066 0
2067 0
2068 0
2069
 0
2070 0
2071 0
2072 0
2073 0
2077 0
2079 0
2082 0

Data as of September 30, 2024

Peer Debt Profile(1)

Our longer-dated weighted average maturity is reflective of a financing strategy that targets matching operating-company level debt with the long-lived nature of our assets, in combination with shorter-dated holding company debt that we generally maintain at Capital Holdings. A balanced mix of tenors and floating rate debt has yielded a longer weighted average tenor, and a weighted average interest rate generally below that of our peers and that indicated by current credit spreads for ‘A’ rated U.S. utilities.

1) Figures reflect total debt, including tax-exempt debt and Junior Subordinated Notes; tenors are based on the final maturity dates of the debt or next remarketing date, if applicable; floating interest rates are based on applicable floating rate resets as of 12/31/2022; fixed and floating interest rates are adjusted for interest rate hedges; does not include nonrecourse / project-level finance debt or hedges

Source: Company Filings & Bank of America; data as of December 31, 2022