Brookfield Renewable, a global leader in renewable power and sustainable solutions, has announced its agreement to issue C$400 million aggregate principal amount of medium-term notes. The offering includes C$100 million aggregate principal amount of Series 17 Notes, due January 10, 2054, with an effective interest rate of 5.417%, and C$300 million aggregate principal amount of Series 18 Notes, due October 20, 2034, with an interest rate of 4.959% per annum.
The Series 17 Notes will be issued as a re-opening on identical terms to the C$400 million principal amount of 5.318% Series 17 Notes issued in January 2024. Brookfield Renewable Partners ULC, a subsidiary of Brookfield Renewable, will be the issuer of the Notes, which will be fully guaranteed by Brookfield Renewable and certain key holding subsidiaries.
The offering is expected to close on or about July 17, 2024, subject to customary closing conditions. The net proceeds from the sale of the Notes will be used to fund Eligible Investments, including the repayment of indebtedness incurred in respect thereof.
Brookfield Renewable’s Series 18 Notes will represent its fourteenth green-labelled corporate securities issuance in North America and the third issuance under its 2024 Green Financing Framework. The company’s renewable power portfolio consists of hydroelectric, wind, utility-scale solar, and storage facilities across North America, South America, Europe, and Asia. With an operating capacity of almost 34,000 megawatts and a development pipeline of approximately 157,000 megawatts, Brookfield Renewable is at the forefront of the renewable energy industry.
The Notes have received favorable ratings from S&P Global Ratings, DBRS Limited, and Fitch Ratings, further demonstrating the company’s strong financial position. The offering is being facilitated by a syndicate of agents led by RBC Capital Markets, Scotiabank, BMO Capital Markets, TD Securities, CIBC Capital Markets, and National Bank Financial Markets.
Brookfield Renewable’s commitment to sustainable solutions and its extensive portfolio make it an attractive investment opportunity for those interested in renewable power and the transition to a greener future.