Brookfield Renewable completes C$374 million secondary offering of exchangeable shares by Brookfield Asset Management

On October 5, 2020, Brookfield Renewable Partners L.P., Brookfield Renewable Corporation (“BEPC”) and Brookfield Asset Management Inc. (“BAM”) announced a secondary offering of 4,055,000 class A exchangeable subordinate voting shares of BEPC by a subsidiary of BAM on a bought deal basis to a syndicate of underwriters co-led by Scotiabank, RBC Capital Markets, TD Securities Inc., BMO Capital Markets and CIBC Capital Markets for distribution to the public. The selling securityholder agreed to sell the exchangeable shares at a price of C$80.20 per share, for gross proceeds of C$325 million.

The selling securityholder also granted the underwriters an over-allotment option, exercisable for a period of 30 days from the date of the offering’s final prospectus supplement, to purchase up to an additional 15% of the exchangeable shares sold pursuant to the offering at the offering price.

The offering closed on October 13, 2020 with the full exercise of the over-allotment option by the syndicate of underwriters, resulting in gross proceeds to the selling securityholder of C$374 million .

Further information can be found on Globe Newswire’s website.

Brookfield Renewable Partners ;operates one of the world’s largest publicly traded, pure-play renewable power platforms. Its portfolio consists of hydroelectric, wind, solar and storage facilities in North America, South America, Europe and Asia, and totals over 19,000 MW of installed capacity and an 18,000 MW development pipeline.