Corporate ActionJun 10, 2026, 06:07 AM
Brookfield Renewable Partners Creates Series 19 Preferred Units
AI Summary
Brookfield Renewable Partners L.P. has filed a Ninth Amendment to its Fourth Amended and Restated Limited Partnership Agreement to create Series 19 Class A Preferred Limited Partnership Units. This amendment authorizes the issuance of 8,000,000 units at C$25.00 each, which will receive cumulative preferential cash distributions. The agreement outlines redemption options for the partnership, reclassification rights for holders into Series 20 Preferred Units, and liquidation preferences. A separate filing details a similar amendment for Brookfield Renewable Energy L.P., and a Guarantee Indenture confirms guarantees from various entities for the Series 19 Preferred LP Unit Obligations.
Key Highlights
- Brookfield Renewable Partners L.P. amends its limited partnership agreement to create Series 19 Class A Preferred Limited Partnership Units.
- 8,000,000 Series 19 Preferred Limited Partnership Units will be issued, with a consideration of C$25.00 per unit.
- Series 19 Units will receive cumulative preferential cash distributions, with an initial rate of C$0.2048 for the first distribution and C$0.359375 quarterly thereafter during the Initial Fixed Rate Period.
- The Partnership may redeem Series 19 Units on July 31, 2031, and every five years thereafter, at C$25.00 per unit plus accrued distributions.
- Holders have the option to reclassify Series 19 Units into Series 20 Preferred Limited Partnership Units on specific dates.
- In case of liquidation, holders are entitled to C$25.00 per unit plus accrued distributions before any distributions to Junior Securities holders.
- Guarantors including BRELP, NA Holdco, Latam Holdco, and Euro Holdco, provide a guarantee for the Series 19 Preferred LP Unit Obligations.
Price Impact
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