Brookfield Renewable to Issue C$400 Million of Green Bonds

BROOKFIELD, News, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Brookfield Renewable (NYSE: BEP, BEPC; TSX: BEP.UN, BEPC) (“Brookfield Renewable”) today announced that it has agreed to issue C$400 million aggregate principal amount of medium-term notes, Series 17, due January 10, 2054, which will bear interest at a rate of 5.318% per annum, payable semi-annually (the “Notes”).

Brookfield Renewable Partners ULC, a subsidiary of Brookfield Renewable, will be the issuer of the Notes, which will be fully and unconditionally guaranteed by Brookfield Renewable and certain of its key holding subsidiaries.

The Notes will be issued pursuant to a base shelf prospectus dated September 8, 2023 and a related prospectus supplement and pricing supplement to be dated January 8, 2024. The issue is expected to close on or about January 10, 2024 subject to customary closing conditions.

The Notes will represent Brookfield Renewable’s twelfth green labelled corporate securities issuance in North America and the first issuance under Brookfield Renewable’s 2024 Green Financing Framework (the “Green Financing Framework”). Brookfield Renewable intends to use the net proceeds from the sale of the Notes to fund Eligible Investments (as defined in the Green Financing Framework), including to repay indebtedness incurred in respect thereof. The Green Financing Framework is available on Brookfield Renewable’s website and described in the prospectus supplement in respect of the offering.

The Notes have been rated BBB+ by S&P Global Ratings, BBB (high) with a stable trend by DBRS Limited and BBB+ by Fitch Ratings.

The Notes are being offered through a syndicate of agents led by CIBC Capital Markets, RBC Capital Markets, TD Securities, BMO Capital Markets, Scotiabank and National Bank Financial Markets, and including Desjardins, BNP Paribas, Mizuho Securities, MUFG, SMBC Nikko and iA Private Wealth Inc.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction, nor shall there be any offer or sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been approved or disapproved by any regulatory authority nor has any such authority passed upon the accuracy or adequacy of the short form base shelf prospectus or the prospectus supplement. The offer and sale of the securities has not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold in the United States or to United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.