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)

More stories to explore
Share this story
About the author
Browse all articles from Veselina Petrova

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.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription