Brookfield Renewable completes C$550 million equity offering

On July 6, 2017, Brookfield Renewable Partners L.P. ("Brookfield Renewable") announced the closing of its previously announced bought deal and private placement offerings of limited partnership units for aggregate gross proceeds of approximately C$550 million.

Pursuant to the prospectus dated June 28, 2017, Brookfield Renewable issued 8,304,000 L.P. units, on a bought deal basis, to a syndicate of underwriters, co-led by Scotia Capital Inc., TD Securities Inc., CIBC Capital Markets, Barclays Capital Canada Inc. and Deutsche Bank Securities Inc. at a price of C$42.15 per L.P. unit for gross proceeds of approximately C$350 million. Concurrent with the public offering, Brookfield Asset Management Inc. ("Brookfield") purchased, directly or indirectly, 4,943,000 L.P. units of Brookfield Renewable at the offering price on a private placement basis.

Brookfield Renewable also granted the underwriters an over-allotment option to purchase up to an additional 1,245,600 L.P. units, exercisable in whole or in part for a period of 30 days following closing of the offering. Brookfield will also have the option to subscribe for additional L.P. units in proportion to the extent that the underwriters' over-allotment option is exercised, up to a maximum of 741,450 additional L.P. units. If both of these options are exercised in full, the gross offering size would increase to approximately C$633 million.

Brookfield Renewable intends to use the net proceeds of the offering and the concurrent private placement to repay amounts outstanding under its credit facilities and for general corporate purposes, including to fund new investments that were previously announced.

Brookfield Renewable Partners operates one of the world's largest publicly traded, pure-play renewable power platforms. Our portfolio consists of hydroelectric and wind facilities in North America, Colombia, Brazil and Europe and totals more than 10,000 MW of installed capacity.

Further information can be found on Brookfield Renewable's website.