Brookfield Renewable to Issue C$200 Million of Green Subordinated Hybrid Notes
Summary
The prospectus supplement, the corresponding base shelf prospectus and any amendment thereto in connection with this offering will be accessible through SEDAR+ within two business days.NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION TO THE UNITED STATESBROOKFIELD, News, Dec. 05, 2024 (GLOBE NEWSWIRE) -- Brookfield Renewable (NYSE: BEP, BEPC; TSX: BEP.UN, BEPC) (Brookfield Renewable) today announced that it has agreed to issue C$200 million aggregate principal amount of Fixed-to-Fixed Reset Rate Subordinated Hybrid Notes due March 12, 2055 (the Hybrid Notes).The notes will bear interest at an annual rate of 5.450% and reset every five years starting on March 12, 2030 at an annual rate equal to the five-year Government of Canada yield, plus a spread of 2.499%. The Hybrid Notes will receive the same rating treatment as our preferred shares and preferred units.Brookfield Renewable Partners ULC, a subsidiary of Brookfield Renewable, will be the issuer of the Hybrid Notes, which will be fully and unconditionally guaranteed by Brookfield Renewable and certain of its key holding subsidiaries.The Hybrid Notes will be issued pursuant to a base shelf prospectus dated September 8, 2023 and a related prospectus supplement to be dated December 9, 2024. Brookfield Renewable intends to use the net proceeds from the sale of the Hybrid Notes to fund Eligible Investments (as defined in the Green Financing Framework), including to repay indebtedness incurred in respect thereof. The prospectus supplement, the corresponding base shelf prospectus and any amendment thereto in connection with the offering will be accessible within two business days at www.sedarplus.com.An electronic or paper copy of the prospectus supplement, the corresponding base shelf prospectus and any amendment to the documents may be obtained, without charge, from BMO Capital Markets by email at DCMCADSyndicateDesk@bmo.com or phone at 416-359-6359, CIBC Capital Markets by email at mailbox.cibcdebtsyndication@cibc.com or phone at 416-594-8515, or Scotiabank by email at syndicate.toronto@scotiabank.com or phone at 416-862-3290.Brookfield RenewableBrookfield Renewable operates one of the worlds largest publicly traded platforms for renewable power and sustainable solutions. Our portfolio of sustainable solutions assets includes our investments in Westinghouse (a leading global nuclear services business) and a utility and independent power producer with operations in the Caribbean and Latin America, as well as both operating assets and a development pipeline of carbon capture and storage capacity, agricultural renewable natural gas and materials recycling.Investors can access the portfolio either through Brookfield Renewable Partners L.P. (NYSE: BEP; TSX: BEP.UN), a Bermuda-based limited partnership, or Brookfield Renewable Corporation (NYSE, TSX: BEPC), a Canadian corporation.Brookfield Renewable is the flagship listed renewable power and transition company of Brookfield Asset Management, a leading global alternative asset manager with over $1 trillion of assets under management.Note: This news release contains forward-looking statements and information within the meaning of Canadian securities laws.