Wednesday, October 13, 2010
Published in Magazine:
Saturday, January 01, 2011
On October 13, 2010, Brookfield Renewable Power Inc. completed an offering of $450 million aggregate principal amount of 5.14 per cent medium-term notes, Series 7, due October 13, 2020, for total gross proceeds of approximately $449.8 million.
The offering was completed pursuant to Brookfield's medium-term note program.
The notes were issued under a pricing supplement dated October 7, 2010, to Brookfield's short form base shelf prospectus dated September 9, 2010, as supplemented by a prospectus supplement dated October 6, 2010.
The offering of the notes was led by CIBC World Markets Inc. and Scotia Capital Inc., and included RBC Dominion Securities Inc., TD Securities Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc. and HSBC Securities (Canada) Inc.
The net proceeds of the offering will be used to (i) early redeem the $400 million aggregate principal amount of 8.75 per cent medium-term notes, Series 5, due February 3, 2012; and (ii) for general corporate purposes.
Torys LLP represented Brookfield Renewable Power Inc.with a team that included Karrin Powys-Lybbe, Michael Zackheim and Nigel Holder (corporate/securities) and Catrina Card (tax).
Goodmans LLP represented the underwriters with a team that included Lawrence Chernin, Bill Gorman and Brian Savage (corporate/securities) and Maureen Berry (tax).