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Brookfield Renewable places CAD-600m green bond

Canadian dollars. Photo by: Sara Long. Lincense: Creative Commons. Attribution 2.0 Generic.

September 13 (Renewables Now) - Canada’s Brookfield Renewable Partners LP (NYSE:BEP) on Wednesday said it has launched a CAD-600-million (USD 453.8m/EUR 408.9m) placement of green bonds to repay debt and redeem existing term notes.

The company, which has over 17 GW of hydropower, wind, solar and storage assets globally, has placed CAD 300 million worth of Series 12 notes, which mature on January 15, 2030, and have an interest rate of 3.38% per year, plus some CAD 300 million of Series 13 notes, due November 5, 2049, with an annual interest rate of 4.29%. Those medium-term notes will be fully and unconditionally guaranteed by Brookfield Renewable and some of its key holding subsidiaries.

Funds from the offering will go to repay debt related to the funding of eligible investments that are part of the company’s green bond framework, including for early redemption of its 5.14% medium-term notes due October 13, 2020. 

The notes are being sold through a syndicate of agents led by CIBC World Markets Inc, TD Securities Inc, Scotia Capital Inc and RBC Dominion Securities Inc. Among the other agents of the transaction are HSBC Securities Canada Inc and MUFG Securities Canada Ltd.

Brookfield Renewable anticipates completing the offering on or about September 13, 2019, subject to customary closing conditions.

(CAD 1.0 = USD 0.756/EUR 0.682)

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Veselina Petrova is one of Renewables Now's 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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