Brookfield Renewable issues C$200 million of preferred limited partnership units
On May 25, 2016, Brookfield Renewable Partners L.P. (Brookfield Renewable) completed its previously announced issue of cumulative minimum rate reset Class A preferred limited partnership units, Series 9. The offering was underwritten by a syndicate led by CIBC Capital Markets, RBC Capital Markets, Scotiabank and TD Securities Inc. Brookfield Renewable issued 8,000,000 Series 9 preferred units (including 2,000,000 units issued pursuant to the exercise, in full, of the over-allotment option granted to the underwriters), at a price of C$25.00 per unit, for total gross proceeds of C$200 million.
The company intends to use the net proceeds of the issue to repay indebtedness.
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 10,000 megawatts of installed capacity. Brookfield Renewable is listed on the New York and Toronto stock exchanges. Brookfield Renewable is the flagship listed renewable power company of Brookfield Asset Management, a leading global alternative asset manager with US$240 billion of assets under management.
Further information can be found on Brookfield Renewable's website.