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Brookfield Renewable Partners to Raise $150 Million Through a Bought Deal of LP Units

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Brookfield Renewable Partners (BEP-UN.TO) on Tuesday said it plans to raise $150 million through a bought deal of limited partnership units.

Brookfield is selling underwriters 6.0 million preferred limited partnership units priced at $25.00 apiece, and with a 5.75% cumulative minimum rate reset. The underwriters have also been granted n over-allotment option of 2.0 million preferred units, which, if fully exercised, would raise the total proceeds to $200 million.

Proceeds will fund eligible investments under Brookfield Renewable's 2024 Green Financing Framework and pay down debt.

The offering will close on June 9.

Brookfield units were last seen up $0.87, to $51.95 on the Toronto Stock Exchange.

Price: $51.95, Change: $+0.87, Percent Change: +1.70%

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