Brookfield Renewable will issue C$400 million of green bonds
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES
BROOKFIELD, News, Nov. 07, 2022 (GLOBE NEWSWIRE) — Brookfield Renewable Partners LP (TSX: BEP.UN; NYSE: BEP) (“Brookfield Renewable”) announced today that it has agreed to issue an amount aggregate principal amount of C$400 million 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 principal holding subsidiaries.
The Notes will be issued under a base shelf prospectus dated August 20, 2021 and related prospectus supplement and pricing supplement to be dated November 7, 2022. The offering is expected to close on on or about November 9, 2022, subject to customary closing conditions. .
The Notes will represent Brookfield Renewable’s sixth corporate 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 relating to 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 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 press release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction, and there will be no offer or sale of securities in any jurisdiction in which such offer, solicitation or sale would be illegal. The securities offered have not been approved or disapproved by any regulatory authority and none of such authorities has passed upon the accuracy or adequacy of the short form base shelf prospectus or the prospectus supplement. The offering and sale of the securities has not been and will not be registered under the United States Securities Act of 1933, as amended (the “United States Securities Act”) or any state law on securities and may not be offered or sold in the United States. or to United States persons who are not registered or who do not benefit from an applicable exemption from the registration requirements of United States securities law and applicable state securities laws.
Brookfield Power operates one of the largest publicly traded pure-play renewable energy platforms in the world. Our portfolio consists of utility scale hydro, wind, solar and storage facilities in North America, South America, Europe and Asia, and totals approximately 24,000 megawatts of installed capacity and over 100,000 megawatts and 8 million metric tons per annum (“MMTPA”) of the carbon capture and storage development pipeline. Investors can access its portfolio through either Brookfield Renewable Partners LP (NYSE: BEP; TSX: BEP.UN), a Bermuda-based limited partnership, or Brookfield Renewable Corporation (NYSE, TSX: BEPC), a Canadian company. Further information is available at https://bep.brookfield.com. Important information may be disseminated exclusively via the website; investors are invited to consult the site to access this information.
Brookfield Renewable is the flagship listed renewable energy company of Brookfield Asset Management, a global leader in alternative asset management with more than US$750 billion in assets under management.
|Simon Maine||Cara Silverman|
|General Manager – Communications||Director – Investor Relations|
|+44 (0)7398 909 278||(416) 649-8172|
|[email protected]||[email protected]|
Caution Regarding Forward-Looking Information
Note: This press 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”, “planned”, “intends” or variations of these words and expressions. Forward-looking statements contained in this press release include statements regarding the closing, terms and use of proceeds of the note offering. Although Brookfield Renewable believes that these forward-looking statements and information are based on reasonable assumptions and expectations, there can be no assurance that such expectations will prove to be 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 that may cause the actual results, performance or achievements of Brookfield Renewable to differ materially of the anticipated future results, performance or achievements expressed or implied by such forward-looking statements and information. Except as required by law, Brookfield Renewable undertakes no 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.