Brookfield Renewable's New Green Bonds Initiative
Recently, Brookfield Renewable (NYSE: BEP, BEPC; TSX: BEP.UN, BEPC) announced an exciting development in its financial strategy. The company has agreed to issue an impressive C$450 million in Series 19 Notes, showcasing its commitment to sustainability and renewable energy.
Details of the Green Bonds
These Series 19 Notes will mature on October 12, 2035, and will carry an annual interest rate of 4.542%. Brookfield Renewable Partners ULC, a subsidiary of Brookfield Renewable, will be the issuer of these notes. Importantly, the issuance is fully guaranteed by Brookfield Renewable and several of its key subsidiaries.
Funding Objectives and Sustainable Investments
Brookfield Renewable aims to use the proceeds from these bonds to support Eligible Investments as defined in their Green Financing Framework for 2024. This includes funding for projects designed to enhance sustainability and renewability in various sectors. The Green Financing Framework outlines how funds will be utilized, helping to ensure that financing goes toward environmentally beneficial projects.
Support from Ratings Agencies
The Series 19 Notes have received favorable ratings from several prominent institutions: a BBB+ rating from S&P Global Ratings, a BBB (high) with a stable trend from DBRS Limited, and a BBB+ from Fitch Ratings. These ratings reflect the robust financial health of Brookfield Renewable and its ongoing commitment to responsible investment.
Distribution and Syndicate Agents
The offering will be conducted through a seasoned syndicate of agents led by CIBC Capital Markets, RBC Capital Markets, TD Securities, BMO Capital Markets, Scotiabank, and the National Bank Financial Markets. Additional participants in this syndicate include Desjardins, BNP Paribas, Mizuho Securities, MUFG, SMBC Nikko, and iA Private Wealth Inc., showcasing a strong network in the financial sector.
Brookfield Renewable: A Leader in the Industry
Brookfield Renewable operates one of the largest platforms dedicated entirely to renewable power solutions globally. The company’s diverse portfolio includes hydroelectric, wind, utility-scale solar, and storage facilities, demonstrating its multifaceted approach to renewable energy. Moreover, Brookfield Renewable is deeply invested in sustainable solutions, which encompass key areas such as carbon capture, recycling, and eFuels manufacturing.
Investing with Brookfield Renewable
Investors interested in sustainable and renewable investment opportunities can access this diverse portfolio through Brookfield Renewable Partners L.P. (NYSE: BEP; TSX: BEP.UN) or Brookfield Renewable Corporation (NYSE: BEPC; TSX: BEPC). Both entities provide different pathways for investment while aligning with the company’s sustainable mission.
Contact Information for Further Inquiries
For media inquiries, please contact:
Simon Maine
+44 7398 909 278
simon.maine@brookfield.com
For investor-related questions, please reach out to:
Alex Jackson
+1 (416) 649-8172
alexander.jackson@brookfield.com
Frequently Asked Questions
What is the total amount being raised through the bond issue?
The total amount being raised is C$450 million via the Series 19 Notes.
What is the interest rate associated with the new green bonds?
The Series 19 Notes will bear an interest rate of 4.542% per annum.
Who is the issuer of the Series 19 Notes?
Brookfield Renewable Partners ULC, a subsidiary of Brookfield Renewable, is the issuer of the Notes.
What will the proceeds be used for?
The proceeds from the bond issue will fund various Eligible Investments in line with Brookfield Renewable's Green Financing Framework.
What can investors expect from Brookfield Renewable's portfolio?
Investors can expect a diverse and robust portfolio of renewable energy assets, including hydroelectric, solar, and wind energy resources.
