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United States. Federal Energy Regulatory Commission

NextEra Energy Transmission MidAtlantic, Inc. Submits Reports to Federal Energy Regulatory Commission

Strategic Insights

— 1 min read

NextEra Energy Transmission MidAtlantic, Inc. has submitted reports to the Federal Energy Regulatory Commission (FERC) in relation to the issuance of securities and borrowing under a revolver loan. The commission had previously authorized the company to issue long-term debt securities in an aggregate principal amount not to exceed $250 million in May 2024. The company has since entered into a new borrowing arrangement under a revolver loan with various lenders in the amount of $150 million on April 29, 2025. The interest rate for this loan is 5.31926%, consisting of a fixed spread of 1.00% and the one-month SOFR rate published by the Federal Reserve Bank of New York.

Key Takeaways:

  • NextEra Energy Transmission MidAtlantic, Inc. submitted reports to FERC regarding the issuance of securities and borrowing under a revolver loan.
  • The company was authorized to issue long-term debt securities in an aggregate principal amount not to exceed $250 million in May 2024.
  • A new borrowing arrangement was entered into under a revolver loan with various lenders in the amount of $150 million on April 29, 2025.
  • The interest rate for the loan is 5.31926%, consisting of a fixed spread of 1.00% and the one-month SOFR rate published by the Federal Reserve Bank of New York on June 30, 2025.
  • The company made a borrowing under the new revolver in the amount of $1.5 million on June 30, 2025.
  • The Section 204 Order granted waiver of competitive bidding and negotiated placement requirements.
  • The reports submitted by the company include a Report of Securities Issued and a Report of Proposals Received.

Statistics:

  • Aggregate principal amount of long-term debt securities authorized to be issued: $250,000,000
  • Amount of new borrowing arrangement under revolver loan: $150,000,000
  • Interest rate for the loan: 5.31926%
  • Fixed spread: 1.00%
  • One-month SOFR rate published by the Federal Reserve Bank of New York on June 30, 2025: 4.31926%
  • Amount borrowed under the new revolver on June 30, 2025: $1,500,000

Sources:

  • NextEra Energy Transmission MidAtlantic, Inc.'s submission to FERC, dated [unavailable]
  • 18 C.F.R. SSSS 34.9, 131.43, and 131.50 of the Commission's regulations.

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