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Brookfield Renewable selling C$600M of green bonds

Brookfield Renewable Partners LP announced Sept. 11 that it agreed to issue C$600 million in green bonds in two tranches.

The partnership will issue C$300 million of its 3.38% series 12 medium-term notes due Jan. 15, 2030, and C$300 million of its 4.29% series 13 medium-term notes due Nov. 5, 2049. Interest on the notes is payable semiannually.

The notes are rated BBB+ by S&P Global Ratings and BBB (high), Stable trend by DBRS Ltd. The securities are fully and unconditionally guaranteed by Brookfield Renewable and certain of its key holding subsidiaries.

Proceeds from the offering will be used to repay debt incurred by Brookfield Renewable to fund eligible investments, including the early redemption of the 5.14% medium-term notes due Oct. 13, 2020.

The issue is expected to close by Sept. 13. CIBC World Markets Inc., TD Securities Inc., Scotia Capital Inc. and RBC Dominion Securities Inc. are leading the syndicate of agents for the offering.