Brookfield Renewable announced its agreement to issue C$200 million aggregate principal amount of Fixed-to-Fixed Reset Rate Subordinated Hybrid Notes due March 12, 2055. These Hybrid Notes will bear interest at an annual rate of 5.450% and will reset every five years starting March 12, 2030.
The Hybrid Notes will be issued by Brookfield Renewable Partners ULC, a subsidiary of Brookfield Renewable, and will be fully and unconditionally guaranteed by Brookfield Renewable and certain key holding subsidiaries. This marks Brookfield Renewable's fifteenth green-labelled corporate securities issuance in North America.
The net proceeds from the sale of these Hybrid Notes are intended to fund Eligible Investments, as defined in Brookfield Renewable’s 2024 Green Financing Framework, including the repayment of indebtedness incurred for such investments. The offering is expected to close on or about December 12, 2024.
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