New Issue: BRF Straight Perpetual, 5.00%

Brookfield Renewable Energy Partners has announced:

that it has agreed to issue 5,000,000 5% perpetual Class A Preferred Shares, Series 6 (“Preferred Shares”) on a bought deal basis to a syndicate of underwriters led by Scotiabank, CIBC, RBC Capital Markets and TD Securities Inc. for distribution to the public. The Preferred Shares will be issued at a price of CDN$25.00 per share, for aggregate gross proceeds of CDN$125,000,000. The Preferred Shares are being issued through a wholly-owned subsidiary of, and are guaranteed by, Brookfield Renewable.

Brookfield Renewable has granted the underwriters an option, exercisable until 48 hours prior to closing, to purchase up to an additional 2,000,000 Preferred Shares which, if exercised, would increase the gross offering size to CDN$175,000,000.

The Preferred Shares will be offered to the public in Canada pursuant to a supplement to Brookfield Renewable’s existing short form base shelf prospectus dated January 23, 2012, that will be filed with securities regulatory authorities in each of the provinces and territories of Canada. The Preferred Shares may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from the registration requirements under the U.S. Securities Act.

The net proceeds of the issue will be used to repay outstanding indebtedness and for general corporate purposes. The offering of Preferred Shares is expected to close on or about May 1, 2013.

2 Responses to “New Issue: BRF Straight Perpetual, 5.00%”

  1. […] PrefBlog Canadian Preferred Shares – Data and Discussion « New Issue: BRF Straight Perpetual, 5.00% […]

  2. […] is a Straight Perpetual, 5.00% announced April 23. The fact that 7-million shares were issued means that the greenshoe option was exercised in full. […]

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