Brookfield Renewable completes C$150 million offering of 5.50% preferred units
On April 14, 2022, Brookfield Renewable Partners L.P. (“Brookfield Renewable”) completed its previously announced issuance of 5,000,000 5.50% cumulative perpetual Class A preferred limited partnership units, Series 18 at an offering price of C$25.00 per unit, for gross proceeds of C$125 million on a bought deal basis.
Brookfield Renewable also granted the underwriters an option, exercisable until 48 hours prior to closing, to purchase up to an additional 1,000,000 Series 18 preferred units at the offering price. The syndicate of underwriters led by CIBC Capital Markets, BMO Capital Markets, National Bank Financial Inc., RBC Capital Markets, Scotiabank and TD Securities Inc. exercised the option in full, increasing the total gross proceeds to C$150 million.
Brookfield Renewable will use the net proceeds from this offering to finance and/or refinance investments made in renewable power generation assets or businesses and to support the development of clean energy technologies that constitute eligible investments.
Further information can be found on Globe Newswire’s website.
Brookfield Renewable operates one of the world’s largest publicly traded, pure-play renewable power platforms. Our portfolio consists of hydroelectric, wind, solar and storage facilities in North America, South America, Europe and Asia, and totals approximately 21,000 megawatts of installed capacity and an approximately 62,000-megawatt development pipeline.