Corporate ActionJun 2, 2026, 09:03 AM
Brookfield Renewable to Issue C$150M Preferred Units
AI Summary
Brookfield Renewable Partners L.P. announced an agreement to issue 6,000,000 Series 19 Preferred Units on a bought deal basis for gross proceeds of C$150,000,000. These units will yield a 5.75% annual distribution for an initial period, with the rate resetting every five years thereafter. The company intends to use the net proceeds to fund Eligible Investments under its Green Financing Framework, including repaying related indebtedness.
Key Highlights
- Brookfield Renewable to issue 6,000,000 Series 19 Preferred Units at C$25.00 each.
- Gross proceeds from the offering are C$150,000,000.
- Initial annual distribution rate is 5.75% until July 31, 2031.
- Distribution rate resets every five years, minimum 5.75% or 5-year Canada bond yield + 2.65%.
- Underwriters have an option to purchase an additional 2,000,000 units, increasing offering to C$200,000,000.
- Proceeds will fund Eligible Investments under the Green Financing Framework and repay related debt.
- Holders can reclassify units into Series 20 Floating Rate Preferred Units.
- Offering expected to close on or about June 9, 2026.
Price Impact
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