“For the balance of the year, files are now expected to be limited to the remaining 50% of the STX Midstream convertible equity [ph] portfolio financing and 15% of the net renewables to convertible equity portfolio financing with the equity portion of these buyouts requiring common units of approximately $280 million and $130 million respectively.”

In context

“rage this flexibility to manage future buyouts to select the most efficient option. Using this flexibility, NextEra Energy Partners has now bought out 50% of the STX Midstream convertible equity portfolio financing through funds generated from a combination of the ATM program, where NextEra Energy Partners was able to be opportunistic and cash from a subsidiary's revolving credit facility. With the buyouts of the 2018 convertible equity portfolio financing and 50% of the STX Midstream convertible equity portfolio financing complete, we estimate that the convertible equity portfolio financing structure has resulted in approximately 55% and 64% respectively or 16 million fewer units being issued, compared to raising capital with underwritten block equity, all for the benefit of unitholders. For the balance of the year, files are now expected to be limited to the remaining 50% of the STX Midstream convertible equity [ph] portfolio financing and 15% of the net renewables to convertible equity portfolio financing with the equity portion of these buyouts requiring common units of approximately $280 million and $130 million respectively. Over the next eight months, we have flexibility and time to opportunistically manage these buyouts in the most efficient way. For each buyout, we have the flexibility to deliver common units to the convertible equity portfolio financing investor, utilize the ATM program or some combination of the two. Ultimately, we will select the most efficient option. In any event, the potential unit issuance from these buyouts are not expected to exceed an average of three days of total trading volume per quarter, which we expect will make them quite manageable. Most importantly, NextEra Energy Partners' growth expectations through 2026 already factor in its financing plan, including convertible equity portfolio financing buyouts at current trading yields. Turning to distribution growth. Yesterday the”