Chicago, April 8 – Brookfield BRP Holdings (Canada) Inc. sold $350 million 4.625% $25-par perpetual subordinated notes (BBB-/DBRS: BBB (low)) guaranteed by Brookfield Renewable Partners LP, according to a 424B5 filing with the Securities and Exchange Commission.
The coupon is payable quarterly. Interest is deferable provided that the deferred interest is due and payable on the date the issuer declares any distributions on the issuer’s common shares or preferred shares.
Other guarantors include Brookfield Renewable Energy LP, BRP Bermuda Holdings I Ltd., Brookfield BRP Europe Holdings (Bermuda) Ltd., Brookfield Renewable Investments Ltd. and BEP Subco Inc.
Wells Fargo Securities, LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and RBC Capital Markets, LLC are the joint bookrunners.
The notes will be callable in whole or in part at par at any time beginning on April 30, 2026.
Proceeds will be used to finance or refinance investments made in renewable power generation assets or businesses to support the development of clean energy technologies.
The issuer intends to list the notes on the NYSE within 30 days of issuance.
Based in Toronto, Brookfield Renewable owns and operates power assets. Its registered office is in Hamilton, Bermuda.
| Issuer: | Brookfield BRP Holdings (Canada) Inc.
|
| Guarantor: | Brookfield Renewable Partners LP
|
| Issue: | Perpetual subordinated notes
|
| Amount: | $350 million
|
| Maturity: | Perpetual
|
| Bookrunners: | Wells Fargo Securities, LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and RBC Capital Markets, LLC
|
| Co-managers: | Citigroup Global Markets Inc., Mizuho Securities USA LLC, MUFG Securities Americas Inc., SMBC Nikko Securities America, Inc. and TD Securities (USA) LLC
|
| Coupon: | 4.625%
|
| Price: | Par
|
| Yield: | 4.625%
|
| Call features: | At par starting April 30, 2026
|
| Trade date: | April 8
|
| Settlement date: | April 15
|
| Ratings: | S&P: BBB-
|
| DBRS: BBB (low)
|
| Distribution: | SEC registered
|
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