Brookfield Renewable Completes $150 Million Bond Issue
25 Mars 2014 - 10:05PM
Marketwired
Brookfield Renewable Completes $150 Million Bond Issue
HAMILTON, BERMUDA--(Marketwired - Mar 25, 2014) - Brookfield
Renewable Energy Partners L.P. (TSX:BEP.UN)(NYSE:BEP) ("Brookfield
Renewable") today announced the completion of a financing of its
Great Lakes Power hydroelectric portfolio located in Ontario,
raising incremental proceeds of CAD $150 million.
Through its wholly-owned subsidiary Great Lakes Power Limited,
Brookfield Renewable issued CAD $90 million of Series 3 Senior
Bonds bearing a 3.77% coupon with an average life of approximately
6 years, and CAD $60 million of Series 3 Subordinate Bonds bearing
a 4.96% coupon with an average life of approximately 9 years. The
senior and subordinate bonds are rated A (low) and BBB (mid),
respectively, by DBRS and are supported by a portfolio of 12
hydroelectric generating stations located in northern Ontario, with
an installed capacity of 349 MW.
Brookfield Renewable Energy Partners (TSX:BEP.UN)(NYSE:BEP)
operates one of the largest publicly-traded, pure-play renewable
power platforms globally. Its portfolio is primarily hydroelectric
and totals approximately 6,000 megawatts of installed capacity.
Diversified across 70 river systems and 12 power markets in the
United States, Canada and Brazil, the portfolio's output is sold
predominantly under long-term contracts and generates enough
electricity from renewable resources to power more than three
million homes on average each year. With a portfolio of
high-quality assets and strong growth prospects, the business is
positioned to generate stable, long-term cash flows supporting
regular and growing cash distributions to shareholders. For more
information, please visit www.brookfieldrenewable.com.
Brookfield Renewable Energy Partners L.P.Zev KormanVice
President, Investor and Media
Relations416-359-1955zev.korman@brookfield.com
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