Brookfield Renewable to Issue CDN$600 Million of Green Bonds
September 11 2019 - 4:37PM
Brookfield Renewable Partners L.P. (TSX: BEP.UN; NYSE: BEP)
(“Brookfield Renewable”) today announced that it has agreed to
issue CDN$600 million aggregate principal amount of medium-term
notes, comprised of CDN$300 million aggregate principal amount of
Series 12 Notes, due January 15, 2030, which will bear interest at
a rate of 3.38% per annum, payable semi-annually (the “Series 12
Notes”) and CDN$300 million aggregate principal amount of Series 13
Notes, due November 5, 2049, which will bear interest at a rate of
4.29% per annum, payable semi-annually (the “Series 13 Notes” and
together with the Series 12 Notes, 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 July 17, 2019,
and a prospectus supplement and pricing supplements to be dated
September 11, 2019. The issue is expected to close on or about
September 13, 2019 subject to customary closing conditions.
The Notes will represent Brookfield Renewable’s
second and third corporate-level green bonds in Canada. Brookfield
Renewable intends to use the net proceeds from the offering of the
Notes to repay indebtedness incurred by Brookfield Renewable to
fund Eligible Investments (as defined in Brookfield Renewable’s
Green Bond Framework), including the early redemption of the 5.14%
medium term notes issued by Brookfield Renewable Power Inc. due
October 13, 2020. The Green Bond Framework is available on
Brookfield Renewable’s website and described in the prospectus
supplement.
Each of the Series 12 Notes and Series 13 Notes
has 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 CIBC World Markets Inc., TD Securities Inc.,
Scotia Capital Inc. and RBC Dominion Securities Inc., and including
BMO Nesbitt Burns Inc., HSBC Securities (Canada) Inc., National
Bank Financial Inc. and MUFG Securities (Canada), Ltd.
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 https://bep.brookfield.com. Further information is
available via the website and investors are encouraged to consult
the website.
Brookfield Renewable is the flagship listed
renewable power company of Brookfield Asset Management, a leading
global alternative asset manager with over $385 billion of assets
under management.
Contact information:
Media:Claire HollandVice
President – Communications(416)
369-8236claire.holland@brookfield.com |
|
Investors:Divya
BiyaniDirector – Investor
Relations(416)
369-2616divya.biyani@brookfield.com |
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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”,
“expect” and “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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