Brookfield Renewable preps CAD-350m green bond issuance

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

April 2 (Renewables Now) - Brookfield Renewable Partners LP (NYSE:BEP) announced on Wednesday that it will issue CAD 350 million (USD 246.4m/EUR 226.8m) in medium-term notes to repay indebtedness.

The pure-play renewables platform operator said in a statement it will use the proceeds from this sale to pay back indebtedness that was incurred previously so as to finance eligible investments as defined in its Green Bond and Preferred Securities Framework dated February 2020.

More details about the newly issued notes are available in the following table.

  Aggregate principal amount Maturity Interest rate
Series 11 Notes CAD 175 million January 2029 3.57%
Series 12 Notes CAD 175 million January 2030 3.62%

Those green bonds will be issued as a re-opening to notes issued in September 2018 and 2019. The new ones are being offered via a syndicate of agents led by CIBC World Markets Inc, BMO Nesbitt Burns Inc and Scotia Capital Inc, RBC Dominion Securities Inc, TD Securities Inc, HSBC Securities (Canada) Inc, National Bank Financial Inc and Mizuho Securities Canada Inc.

The sale is expected to close on or about April 3, 2020.

(CAD 1.0 = USD 0.704/EUR 0.648)

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