Brookfield Renewable Announces Exercise of Underwriters’ Option
March 04 2019 - 5:19PM
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION TO THE UNITED STATES
Brookfield Renewable Partners L.P. (
TSX: BEP.UN; NYSE:
BEP) (“Brookfield Renewable”) today announced that as a
result of strong investor demand for its previously announced
offering, the underwriters have partially exercised their option to
increase the size of the offering to 7,000,000 Cumulative Minimum
Rate Reset Class A Preferred Limited Partnership Units, Series 15
(the “Series 15 Preferred Units”) to be offered on a bought deal
basis to a syndicate of underwriters led by CIBC Capital Markets,
BMO Capital Markets, RBC Capital Markets, Scotiabank and TD
Securities Inc. The Series 15 Preferred Units will be issued at a
price of $25.00 per unit, for gross proceeds of $175,000,000.
The Series 15 Preferred Units will be offered in
all provinces and territories of Canada by way of a supplement to
Brookfield Renewable’s existing Canadian short form base shelf
prospectus. The Series 15 Preferred Units may not be offered or
sold in the United States or to U.S. persons absent registration or
an applicable exemption from the registration requirements under
the U.S. Securities Act.
Brookfield Renewable intends to use the net
proceeds of the issue of Series 15 Preferred Units to repay
outstanding indebtedness and for general corporate purposes. The
offering of Series 15 Preferred Units is expected to close on or
about March 11, 2019.
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.
Brookfield Renewable is the flagship listed
renewable power company of Brookfield Asset Management, a leading
global alternative asset manager with over $350 billion of assets
under management.
Contact information:
Media:
Investors:Claire Holland
Divya BiyaniVice President –
Communications
Director – Investor Relations(416) 369-8236
(416)
369-2616claire.holland@brookfield.com
divya.biyani@brookfield.com
Cautionary statement regarding forward-looking
information
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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