- Brookfield Renewable Partners (BEP.UN) has agreed to issue C$400 million notes
- The aggregate principal amount of medium-term notes, Series 15, due November 9, 2032, will bear interest at an annual rate of 5.88 per cent, payable semi-annually
- The notes will be fully and unconditionally guaranteed by Brookfield Renewable and certain of its key holding subsidiaries
- Brookfield Renewable operates one of the world’s largest publicly-traded, pure-play renewable power platforms
- Brookfield Renewable Partners L.P. opened trading at $40.20 per share
Brookfield Renewable Partners (BEP.UN) has agreed to issue C$400 million notes.
The aggregate principal amount of medium-term notes, Series 15, due November 9, 2032, will bear interest at an annual rate of 5.88 per cent, payable semi-annually.
Brookfield Renewable Partners ULC (Finco), a subsidiary of Brookfield Renewable, will be the issuer of the notes.
The notes will be fully and unconditionally guaranteed by Brookfield Renewable and certain of its key holding subsidiaries.
The notes will be issued in line with a base shelf prospectus dated August 20, 2021, and a related prospectus supplement and pricing supplement to be dated November 7, 2022.
The issue is expected to close on or about November 9, 2022, subject to customary closing conditions.
The notes will represent Brookfield Renewable’s sixth corporate-level green bond in Canada.
Brookfield Renewable intends to use the net proceeds from the sale of the notes to repay indebtedness incurred by Brookfield Renewable to fund Eligible Investments (as defined in Brookfield Renewable’s Green Bond and Preferred Securities Framework dated February 2020).
The notes have been rated BBB+ by S&P Global Ratings, BBB (high) with a stable trend by DBRS Limited and BBB+ by Fitch Ratings.
The notes are being offered through a syndicate of agents led by BMO Capital Markets, CIBC Capital Markets and Scotiabank, including National Bank Financial Markets, RBC Capital Markets, TD Securities, HSBC, Desjardins, Mizuho Securities, MUFG, SMBC Nikko, iA Private Wealth Inc. and Sera Global.
Brookfield Renewable operates one of the world’s largest publicly-traded, pure-play renewable power platforms.
Brookfield Renewable Partners L.P. opened trading at $40.20 per share.