Brookfield Renewable to Issue C$400 Million of Green Bonds
November 07 2022 - 6:57PM
Brookfield Renewable Partners L.P. (TSX: BEP.UN; NYSE: BEP)
(“Brookfield Renewable”) today announced that it has agreed to
issue C$400 million aggregate principal amount of medium-term
notes, Series 15, due November 9, 2032, which will bear interest at
a rate of 5.88% per annum, payable semi-annually (the “Notes”).
Brookfield Renewable Partners ULC (“Finco”), a subsidiary of
Brookfield Renewable, will be the issuer of the Notes, which will
be fully and unconditionally guaranteed by Brookfield Renewable and
certain of its key holding subsidiaries.
The Notes will be issued pursuant to 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 Green Bond
and Preferred Securities Framework is available on Brookfield
Renewable’s website and described in the prospectus supplement in
respect of the offering.
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, and including National Bank Financial Markets, RBC
Capital Markets, TD Securities, HSBC, Desjardins, Mizuho
Securities, MUFG, SMBC Nikko, iA Private Wealth Inc. and Sera
Global.
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
Brookfield Renewable operates
one of the world’s largest publicly traded, pure-play renewable
power platforms. Our portfolio consists of hydroelectric, wind,
utility-scale solar and storage facilities in North
America, South America, Europe and Asia, and
totals approximately 24,000 megawatts of installed capacity and an
over 100,000-megawatt and 8 million metric tons per annum (“MMTPA”)
of carbon capture and storage development pipeline. Investors can
access its portfolio either through Brookfield Renewable
Partners L.P. (NYSE: BEP; TSX: BEP.UN), a Bermuda-based
limited partnership, or Brookfield Renewable
Corporation (NYSE, TSX: BEPC), a Canadian corporation. 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 US$750
billion of assets under management.
Contact information: |
|
|
Media: |
Investors: |
Simon Maine |
Cara Silverman |
Managing Director – Communications |
Director - Investor Relations |
+44 (0)7398 909 278 |
(416) 649-8172 |
simon.maine@brookfield.com |
cara.silverman@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, the terms and the use of proceeds of the
offering of Notes. 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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