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JUNO BEACH, Fla. - XPLR Infrastructure, LP (NYSE: XIFR), a clean energy infrastructure company with a market capitalization of $847 million, announced today a private offering of $1.4 billion in senior unsecured notes by its subsidiary, XPLR Infrastructure Operating Partners, LP ("XPLR OpCo"). The offering comprises notes due in 2031 and 2033, which will be guaranteed by XPLR Infrastructure and XPLR Infrastructure US Partners Holdings, LLC.
The proceeds from the sale will be added to XPLR OpCo’s general funds, which are expected to be used for repowering capital expenditures, repayment of existing debt, including the 0.00% convertible senior notes due in November 2025, and other general business purposes. According to InvestingPro data, the company’s current ratio stands at 0.79, indicating potential liquidity challenges, with short-term obligations exceeding liquid assets. These may include investments to improve and expand XPLR’s portfolio, buyout rights relating to noncontrolling interests, and potential funding for clean energy projects or assets. The company may also temporarily place any unused funds in short-term instruments.
The notes have not been registered under the Securities Act of 1933, as amended, and are being offered only to qualified institutional buyers and certain non-U.S. persons. There is no assurance as to the repurchase amount or terms for the 2025 notes.
XPLR Infrastructure focuses on clean energy infrastructure with a diversified portfolio across wind, solar, battery storage, and natural gas pipeline assets. The company aims to deliver long-term value to its unitholders through disciplined capital allocation from its assets, generating annual revenue of $1.23 billion. InvestingPro analysis reveals 12+ additional insights about XIFR’s financial health and growth prospects, available exclusively to subscribers.
This press release contains forward-looking statements subject to risks and uncertainties that could affect the company’s future results, including its renewable energy projects’ performance, regulatory changes, and financing activities. XPLR’s business is also subject to various risks such as weather conditions, operational challenges, and dependency on third-party facilities.
Investors should note that this news is based on a press release statement, and the offering details are subject to market conditions and other factors. The company’s stock has experienced significant volatility, with a dividend yield of 40.5%. For comprehensive analysis of XIFR and 1,400+ other stocks, including detailed Fair Value assessments and financial health scores, consider accessing the full Pro Research Report on InvestingPro.
In other recent news, XPLR Infrastructure reported its fourth-quarter 2024 earnings, revealing a significant miss on earnings per share (EPS) expectations. The company posted an EPS of -$1.08, falling short of the forecasted $0.71, although revenue slightly exceeded expectations at $294 million against a forecast of $288.59 million. In response to this performance, Jefferies analyst Julian Dumoulin-Smith adjusted the price target for XPLR Infrastructure shares, reducing it to $12.00 from $15.00, while maintaining a Buy rating on the stock. This revision was due to anticipated increases in interest expenses from new or refinanced debt, impacting future financial performance.
Additionally, XPLR Infrastructure announced significant leadership changes, with Rebecca Kujawa retiring from the Board of Directors and James M. May resigning as Controller to take a position at NextEra Energy, Inc. William J. Gough will succeed Mr. May as Controller, and Michael H. Dunne will join the Board. These leadership transitions reflect the company’s ongoing corporate governance strategies.
Looking forward, XPLR Infrastructure expects its adjusted EBITDA for 2025 to remain flat year-over-year, with guidance for 2026 set between $1.75 billion and $1.95 billion. The company plans substantial investments in growth capital expenditures, focusing on SEPIF buyouts and asset repowering, without issuing new equity. These initiatives aim to capitalize on the anticipated increase in power demand over the next two decades.
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