Brookfield Renewable cancels LP units sale in US

Jun 24, 2013 - Canada-based Brookfield Renewable Energy Partners LP (TSE:BEP.UN) said Thursday it had cancelled its US and Canadian public offering of up to 12.18 million limited partnership (LP) units, unveiled last week.

The company explained its move was a result of the present capital market situation, without elaborating further.

Last Tuesday Brookfield Renewable announced the sale of up to 12.18 million LP units, including up to 1.83 million additional units to cover over-allotments.

Barclays Capital Inc, Deutsche Bank Securities Inc, CIBC World Markets Inc and Scotia Capital Inc have been mandated as joint book-runners.

Brookfield Renewable, whose portfolio includes some 5.9 GW of hydropower plants, saw its first-quarter funds from operations fall to USD 162 million (EUR 124m) from USD 175 million a year earlier.

(USD 1.0 = EUR 0.763)

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