Brookfield Renewable places CAD-400m bond to fund green projects

Brookfield Renewable (NYSE:BEP), a renewable power platform with roughly 34 GW of assets, has launched a bond offering of CAD 400 million (USD 292.2m/EUR 268.4m), aiming to raise funds for its green energy initiatives.

The medium-term notes sale was undertaken by the company’s subsidiary Brookfield Renewable Partners ULC and is planned to close on or about July 17.

The transaction consists of CAD 100 million of Series 17 Notes due January 10, 2054, with an effective interest rate of 5.417%, to be issued at a price of CAD 98.549, plus accrued interest. An additional CAD 300 million worth of Series 18 Notes are also on the market as part of the placement. The latter will mature on October 20, 2034, and bear an annual interest rate of 4.959%.

The securities will be fully guaranteed by Brookfield Renewable and some of its key holding subsidiaries.

The fresh proceeds will be allocated to fund investments under its green financing framework, including projects for the production of renewable and low-carbon electricity and energy efficiency schemes. A portion of the raised capital will go to repay existing debt.

RBC Capital Markets, Scotiabank, BMO Capital Markets, TD Securities, CIBC Capital Markets and National Bank Financial Markets, among others, are assisting Brookfield Renewable with the placement.

(CAD 1.0 = USD 0.731/EUR 0.671)

Choose your newsletter by Renewables Now. Join for free!