Pattern Energy Group Inc. completes US$352 million initial public offering

Torys acted as counsel to the underwriters led by BMO Nesbitt Burns, RBC Dominion Securities, Morgan Stanley and the syndicate of underwriters with a team that included Philip Symmonds, Rima Ramchandani, Jim MIller, Christian Thatcher, Harry Cherniak, Addie Buhr and Frazer House (corporate/securities), Corrado Cardarelli and Andrew Wong (tax), Jonathan Myers (energy regulatory), Tyson Dyck (environmental), Andy Gibbons (real estate) and Lynne Lacoursière (employment).

On October 2, 2013, Pattern Energy Group Inc. (Pattern) announced the closing of its initial public offering of 16,000,000 shares of its Class A common stock at a price of US$22.00 per share resulting in gross proceeds of US$352.0 million. Pattern intends to use the net proceeds of approximately US$318.6 million from the offering as partial consideration for its initial portfolio of wind assets that will be contributed to Pattern by Pattern Energy Group LP (PEG LP) in connection with the completion of the offering, to repay the outstanding indebtedness under Pattern's revolving credit facility and the remainder for working capital and general corporate purposes.

The offering was made through a syndicate of underwriters led by BMO Capital Markets, RBC Capital Markets and Morgan Stanley as joint book-running managers. BofA Merrill Lynch acted as bookrunner and CIBC, Scotiabank, Wells Fargo Securities, Canaccord Genuity and Raymond James acted as co-managers for the offering.

Pattern is an independent power company, which owns and operates eight wind power projects in the United States, Canada and Chile for a total owned capacity of 1,041 MW.

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