Brookfield Renewable completes C$175 million preferred units offering

Torys acted as counsel to Brookfield Renewable with a team that included Rima Ramchandani, David Forrester, Addie Buhr (corporate/securities) and Richard Johnson (tax).

On November 25, 2015, Brookfield Renewable Energy Partners L.P. (Brookfield Renewable) completed its previously announced issue of cumulative minimum rate reset Class A preferred limited partnership units, Series 7 (Series 7 preferred units). The offering was underwritten by a syndicate led by TD Securities Inc., CIBC, RBC Capital Markets and Scotiabank. Brookfield Renewable issued 7,000,000 Series 7 preferred units at a price of C$25.00 per unit, for total gross proceeds of C$175 million.

The company intends to use the net proceeds of the issue to repay indebtedness and for general corporate purposes.

Brookfield Renewable operates one of the world's largest publicly traded, pure-play renewable power platforms. Its portfolio consists of hydroelectric and wind facilities in North America, Latin America and Europe and totals more than 7,000 megawatts of installed capacity, generating enough renewable energy to power four million homes. Brookfield Renewable is listed on the New York and Toronto stock exchanges. Brookfield Renewable is the flagship listed renewable energy company of Brookfield Asset Management, a leading global alternative asset manager with over $200 billion of assets under management.

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