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Overview

Bank of China contributes $122.3 million USD to the $2 billion USD syndicated revolving credit facility to NextEra Capital Holdings for general corporate purposes (Linked to Record ID#105292, #105293, #105294, and #105295)

Commitments (Constant USD, 2023)$115,563,610
Commitment Year•2022Country of Activity•United StatesDirect Recipient Country of Incorporation•United StatesSector•EnergyFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Nov 18, 2022
Last repayment (originally scheduled)
Nov 17, 2025

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

  • Bank of China (BOC)

Cofinancing agencies

Private Sector

  • Associated Banc-Corp
  • Banco Santander, S.A. (Santander Group) (formerly Banco Santander Central Hispano, S.A.)
  • BNP Paribas S.A.
  • CaixaBank, S.A. (Formerly Criteria CaixaCorp)
  • Commerzbank Aktiengesellschaft (Commerzbank AG)
  • FirstBank Puerto Rico (doing business as FirstBank Florida)
  • Hancock Whitney Bank
  • Huntington National Bank
  • Intesa Sanpaolo S.P.A. (formerly Cariplo/Banca Intesa/BCI)
  • M&T Bank Corporation
  • National Australia Bank Limited (NAB)
  • National Cooperative Services Corporation (NCSC)
  • Oversea-Chinese Banking Corporation, Limited (OCBC Bank)
  • Renasant Bank
  • ServisFirst Bank
  • Synovus Financial Corp. (formerly the Columbus Bank and Trust Company)

State-owned Banks

  • Bank of Taiwan
  • Korea Development Bank (KDB)
  • PT Bank Negara Indonesia (Persero)
  • State Bank of India (SBI)

State-owned Commercial Banks

  • China Bank of Communications (BoCom or BoComm)
  • China Construction Bank Corporation (CCB)
  • China Merchants Bank Co., Ltd.
  • CMB Wing Lung Bank (formerly Wing Lung Bank)

Receiving agencies

Private Sector

  • NextEra Capital Holdings, Inc. (NEECH)

Loan description

November 2022 $2 billion USD syndicated revolving credit facility to NextEra Capital Holdings for general corporate purposes in the United States

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

On November 18, 2022, financial close was reached on a deal in which a syndicate of 26 banks — including the Bank of China (BOC), the Bank of Communications (BoComm), China Construction Bank Corporation (CCB), China Merchants Bank Co., Ltd., and CMB Wing Lung Bank — entered into a $2.000 billion USD syndicated revolving credit facility (RCF) agreement with NextEra Capital Holdings, Inc. (NEECH) — a Florida-incorporated holding wholly-owned company subsidiary of NextEra Energy, Inc. — for general corporate purposes. This RCF carried a maturity period of three years. The proceeds were to be used by the borrower for general corporate purposes. BOC contributed $122.30 million USD, BoComm contributed $40.00 million USD, CCB contributed $122.30 million USD, China Merchants Bank contributed $122.30 million USD, and CMB Wing Lung Bank contributed $30.00 million USD. Record ID#105291 captures BOC's contribution. Record ID#105292 captures BoComm's contribution. Record ID#105293 captures CCB's contribution. Record ID#105294 captures China Merchants Bank's contribution. Record ID#105295 captures CMB Wing Lung Bank's contribution. In addition to the five Chinese state-owned banks, the following lenders contributed to the loan syndicate: Associated Banc-Corp ($35.00 million USD), Bank of Taiwan ($50.00 million USD), BNP Paribas S.A. ($122.30 million USD), CaixaBank, S.A. ($122.30 million USD), Commerzbank AG ($122.30 million USD), FirstBank Puerto Rico ($10.00 million USD), Hancock Whitney Bank ($50.00 million USD), Huntington National Bank ($122.30 million USD), Intesa Sanpaolo S.p.A. ($122.30 million USD), Korea Development Bank (KDB) ($10.00 million USD), M&T Bank Corporation ($75.00 million USD), National Australia Bank Limited (NAB) ($122.30 million USD), National Cooperative Services Corporation (NCSC) ($50.00 million USD), Oversea-Chinese Banking Corporation Limited (OCBC Bank) ($100.00 million USD), Renasant Bank ($30.00 million USD), Banco Santander, S.A. ($122.30 million USD), ServisFirst Bank ($15.00 million USD), State Bank of India (SBI) ($122.30 million USD), Synovus Financial Corp. ($30.00 million USD), and Bank Negara Indonesia ($7.50 million USD).

Staff comments

1. NextEra Capital Holdings, Inc. (NEECH) is holding wholly-owned company subsidiary of NextEra Energy, Inc.