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Brookfield Renewable issues USD-475m green bond

Wind farm in Ontario. Author: Chris Lee. License: Creative Commons, Attribution-NoDerivs 2.0 Generic

July 13 (Renewables Now) - Brookfield Renewable Partners LP (NYSE:BEP) has issued a USD-475-million (EUR 415.4m) green bond in a private placement in Canada and the US.

The company, which has over 10 GW of hydro and wind in its portfolio, said in a press release on Wednesday that the financing is secured against its 380-MW White Pine hydropower plants in Maine. The non-amortizing bond bears an annual coupon of 4.4% and matures in 2032. The proceeds will finance renewable energy projects, the Canadian company said.

The bond received an E-1 green evaluation rating from Standard & Poor's (S&P). It is not registered under the securities laws of any jurisdiction, Brookfield noted.

Brookfield Renewables is a unit of Brookfield Asset Management Inc (TSE:BAM.A). Earlier this month it closed a bought deal and private placement offerings, aimed at raising at least CAD 550 million (USD 432m/EUR 377m) in gross proceeds for general corporate needs, including new investments.

(CAD 1.0 = USD 0.785/EUR 0.686)

(USD 1.0 = EUR 0.874)

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Veselina Petrova is one of SeeNews Renewables most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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