Feb 22, 2013
February 22, 2013 – Brookfield Renewable Energy Partners (“Brookfield Renewable”) today announced the completion of a $450,000,000 offering for its Comber Wind farm in Essex County, Ontario. The bond issuance was Canada’s first broadly marketed and rated wind financing.
The 166 MW Comber Wind farm entered commercial operation in the fall of 2011 and benefits from a 20-year Power Purchase Agreement with the Ontario Power Authority.
The Senior Bonds bear an all-in interest rate of 5.13% and fully amortize over a period of 17.7 years. The bonds are rated BBB by DBRS.
“We are grateful for the strong response to this offering from institutional investors across Canada,” said Sachin Shah, Chief Financial Officer of Brookfield Renewable. “The transaction was oversubscribed with significant demand resulting in the participation of more than 25 investors. As the first public wind deal in Canada, the offering attracted many institutions new to the sector and should help to increase and diversify future financing opportunities for renewable power companies and investors alike.”
Scotia Capital Inc. acted as sole lead and bookrunner.
Brookfield Renewable Energy Partners (TSX: BEP.UN) operates one of the largest publicly-traded, pure-play renewable power platforms globally. Its portfolio is primarily hydroelectric and totals approximately 5,300 megawatts of installed capacity. Diversified across 69 river systems and 11 power markets in the United States, Canada and Brazil, the portfolio generates enough electricity from renewable resources to power more than two million homes on average each year. With a virtually fully-contracted 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.
For more information, please contact:
Investor Relations
Zev Korman
Director, Investor Relations
Tel: (416) 359-1955
Email: [email protected]
The 166 MW Comber Wind farm entered commercial operation in the fall of 2011 and benefits from a 20-year Power Purchase Agreement with the Ontario Power Authority.
The Senior Bonds bear an all-in interest rate of 5.13% and fully amortize over a period of 17.7 years. The bonds are rated BBB by DBRS.
“We are grateful for the strong response to this offering from institutional investors across Canada,” said Sachin Shah, Chief Financial Officer of Brookfield Renewable. “The transaction was oversubscribed with significant demand resulting in the participation of more than 25 investors. As the first public wind deal in Canada, the offering attracted many institutions new to the sector and should help to increase and diversify future financing opportunities for renewable power companies and investors alike.”
Scotia Capital Inc. acted as sole lead and bookrunner.
* * * * *
Brookfield Renewable Energy Partners (TSX: BEP.UN) operates one of the largest publicly-traded, pure-play renewable power platforms globally. Its portfolio is primarily hydroelectric and totals approximately 5,300 megawatts of installed capacity. Diversified across 69 river systems and 11 power markets in the United States, Canada and Brazil, the portfolio generates enough electricity from renewable resources to power more than two million homes on average each year. With a virtually fully-contracted 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.
For more information, please contact:
Investor Relations
Zev Korman
Director, Investor Relations
Tel: (416) 359-1955
Email: [email protected]
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