Brookfield Renewable to Issue CDN$300 Million Green Bond
September 18 2018 - 4:25PM
All amounts in U.S. dollars unless otherwise
stated
Brookfield Renewable Partners L.P. (TSX: BEP.UN; NYSE: BEP)
(“Brookfield Renewable”) today announced that it has agreed to
issue CDN$300 million aggregate principal amount of medium-term
notes, Series 11, due January 15, 2029, which will bear interest at
a rate of 4.25% per annum, payable semi-annually (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 pursuant to Brookfield
Renewable’s short form base shelf prospectus dated June 26, 2017,
and a prospectus supplement and pricing supplement to be dated
September 18, 2018. The issue is expected to close on or about
September 20, 2018 subject to customary closing conditions.
The Notes will represent Brookfield Renewable’s
inaugural, corporate-level green bond in Canada. Under its recently
implemented Green Bond Framework the proceeds are to be used to
finance and/or refinance investments in renewable power generation
and to support the development of clean energy technologies. The
Green Bond Framework is available on Brookfield Renewable’s website
and described in the prospectus supplement.
The Notes have been rated BBB+ by Standard &
Poor's Rating Services and BBB (high), Stable trend by DBRS
Limited.
The Notes are being offered through a syndicate
of agents led by Scotia Capital Inc., TD Securities Inc., CIBC
World Markets Inc., and HSBC Securities (Canada) Inc., and
including RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., and
National Bank Financial Inc.
This news release shall not constitute an offer
to sell or the solicitation of an offer to buy the securities in
any jurisdiction, nor shall there be any offer or sale of the
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful. The securities being offered have not been
approved or disapproved by any regulatory authority nor has any
such authority passed upon the accuracy or adequacy of the short
form base shelf prospectus or the prospectus supplement. The offer
and sale of the securities has not been and will not be registered
under the United States Securities Act of 1933, as amended (the
“U.S. Securities Act”) or any state securities laws and may not be
offered or sold in the United States or to United States persons
absent registration or an applicable exemption from the
registration requirements of the U.S. Securities Act and applicable
state securities laws.
Brookfield Renewable Partners
Brookfield Renewable Partners operates one of the world’s
largest publicly traded, pure-play renewable power platforms. Our
portfolio consists of hydroelectric, wind, solar and storage
facilities in North America, South America, Europe and Asia and
totals over 17,000 megawatts of installed capacity and an 8,000
megawatt development pipeline. Brookfield Renewable is listed on
the New York and Toronto stock exchanges. Further information is
available at http://bep.brookfield.com. Important information may
be disseminated exclusively via the website; investors should
consult the site to access this information.
Brookfield Renewable is the flagship listed renewable power
company of Brookfield Asset Management, a leading global
alternative asset manager with over US$285 billion of assets under
management.
For more information, please contact:
Media:Claire Holland(416)
369-8236claire.holland@brookfield.com
Investors:Divya Biyani(416)
369-2616divya.biyani@brookfield.com
Cautionary Statement Regarding Forward-looking
Statements
Note: This news release contains forward-looking statements and
information within the meaning of Canadian securities laws.
Forward-looking statements may include estimates, plans,
expectations, opinions, forecasts, projections, guidance or other
statements that are not statements of fact. Forward-looking
statements can be identified by the use of words such as “will”,
“expected”, “intend”, or variations of such words and phrases.
Forward-looking statements in this news release include statements
regarding the closing and use of proceeds of the offering. Although
Brookfield Renewable believes that such forward-looking statements
and information are based upon reasonable assumptions and
expectations, no assurance is given that such expectations will
prove to have been correct. The reader should not place undue
reliance on forward-looking statements and information as such
statements and information involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Brookfield Renewable to differ
materially from anticipated future results, performance or
achievement expressed or implied by such forward-looking statements
and information. Except as required by law, Brookfield Renewable
does not undertake any obligation to publicly update or revise any
forward-looking statements or information, whether written or oral,
whether as a result of new information, future events or
otherwise.
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