Brookfield Renewable to refinance debt using $400 million medium-term Note offering

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Brookfield Renewable to refinance debt using $400 million medium-term Note offering

By Greentech Lead Team: Brookfield
Renewable Energy Partners, which operates pure-play renewable power platforms
globally, will refinance its existing debt by utilizing $400 million medium-term
Note offering.

The company, according to a press release,
has agreed to sell an aggregate principal amount of $400 million of medium-term
notes, Series 8, due February 2022, which will bear interest at a rate of 4.79
percent per annum, payable semi-annually.

Brookfield Renewable will use the net proceeds from the sale of the Notes to refinance existing
indebtedness and for general corporate purposes.

The Notes will be fully and unconditionally
guaranteed by Brookfield Renewable and certain of its key holding subsidiaries.

The Notes will be issued pursuant to a
short form base shelf prospectus dated January 23, 2012, a related prospectus
supplement dated January 31, 2012 and a related pricing supplement to be dated
January 31, 2012. The issue is expected to close on or about February 7, 2012,
subject to customary closing conditions.

The Notes have been rated BBB (stable
outlook) by Standard & Poor’s Rating Services and BBB (high) with a stable
trend by DBRS Limited.

The Notes are being offered through a
syndicate of agents led by CIBC World Markets and RBC Dominion Securities, and
includes Scotia Capital, TD Securities, BMO Nesbitt Burns, National Bank
Financial and HSBC Securities Canada.

Brookfield Renewable Energy Partners
operates pure-play renewable power platforms globally. Its portfolio is
primarily hydroelectric and includes 172 hydropower facilities, six wind farms,
and totals approximately 5,000 megawatts of installed capacity.

Diversified across 67 river systems and 10
power markets in Canada, the United States and Brazil, the portfolio generates
enough electricity from renewable resources to power two million homes on
average each year.

[email protected]


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