Brookfield Renewable Issues $200 Million Inaugural Green Perpetual Preferred Units
February 24 2020 - 4:30PM
Brookfield Renewable Partners L.P. (
TSX: BEP.UN; NYSE:
BEP) (“Brookfield Renewable”) today announced it has
completed the issuance of 8,000,000 green perpetual Class A
Preferred Limited Partnership Units, Series 17 (the “Series 17
Preferred Units”), for gross proceeds of $200,000,000.
Holders of the Series 17 Preferred Units will be entitled to
receive a cumulative quarterly fixed distribution of 5.25% per
annum. The Series 17 Preferred Units will be listed on the New York
Stock Exchange under the symbol “BEP PR A.”
The Series 17 Preferred Units represent
Brookfield Renewable’s inaugural green perpetual preferred unit
issuance and further strengthens its position as a leading issuer
of sustainable capital. In total, Brookfield Renewable has
completed $2.6 billion in green financing initiatives over the last
two years. In connection with this issuance, Brookfield Renewable
has broadened the scope of its Green Bond Framework to include
preferred securities. Brookfield Renewable intends to use the net
proceeds of the offering to finance and/or refinance investments
made in renewable power generation assets or businesses, and to
support the development of clean energy technologies, that
constitute eligible investments pursuant to the Green Bond and
Preferred Securities Framework. The Green Bond and Preferred
Securities Framework is available on Brookfield Renewable’s
website.
Wells Fargo Securities, LLC, BofA Securities,
Inc., J.P. Morgan Securities LLC and RBC Capital Markets, LLC acted
as joint bookrunning managers for the public offering.
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.
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 approximately 19,000 megawatts of installed
capacity and an approximately 13,000 megawatt development pipeline.
Brookfield Renewable’s limited partnership units are listed on the
New York and Toronto stock exchanges. Further information is
available at https://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 $540 billion of assets
under management.
Contact information: |
|
Media: |
Investors: |
Claire Holland |
Robin Kooyman |
Vice President - Communications |
Senior Vice President – Investor Relations |
(416) 369-8236 |
(416) 649-8172 |
claire.holland@brookfield.com |
robin.kooyman@brookfield.com |
Cautionary Statement Regarding
Forward-looking Statements
Note: This news release contains forward-looking
statements and information within the meaning of applicable
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 Brookfield Renewable’s green financing initiatives and
the use of proceeds of the offering of the Series 17 Preferred
Units. 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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