- Brookfield Renewable to issue C$400 million in green bonds.
- Proceeds will fund eligible green investments.
- Notes rated BBB+ by S&P, DBRS, and Fitch.
Brookfield Renewable (NYSE: BEP, BEPC; TSX: BEP.UN, BEPC) has announced a major step in its green financing efforts with the issuance of C$400 million in medium-term notes. The issuance includes C$100 million of Series 17 Notes and C$300 million of Series 18 Notes, bearing interest rates of 5.417% and 4.959%, respectively.
Detailed Breakdown:
- Series 17 Notes: Due January 10, 2054, issued at C$98.549 plus accrued interest, mirroring terms from January 2024’s issuance.
- Series 18 Notes: Due October 20, 2034, marking Brookfield’s fourteenth green-labelled issuance in North America and the third under their 2024 Green Financing Framework.
Brookfield Renewable Partners ULC will issue the Notes, fully guaranteed by Brookfield Renewable and key subsidiaries. Proceeds will fund eligible green investments, including debt repayment tied to these investments.
Market Reception and Ratings:
- The Notes have been rated BBB+ by S&P Global Ratings, BBB (high) with a stable trend by DBRS Limited, and BBB+ by Fitch Ratings.
- “This issuance supports our ongoing commitment to sustainable financing,” stated a Brookfield representative.
The issuance will close on or about July 17, 2024, subject to customary conditions, and will be offered through a syndicate of leading financial institutions, including RBC Capital Markets and Scotiabank.
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This announcement is not an offer to sell securities in any jurisdiction, and the Notes will not be registered under the U.S. Securities Act.
For more details, refer to the Green Financing Framework available on Brookfield Renewable’s website.