- Brookfield Renewable Partners (NYSE:BEP) -1.6% AH after saying it plans to issue 10.655M limited partner units on a bought-deal basis at C$37.55/unit, with an underwriters option to purchase up to an additional 1.598M units.
- In addition, Brookfield Asset Management (BAM) and related entities say they will purchase ~11.1M BEP units concurrent with the offering; aggregate gross proceeds of the offering and concurrent private placement will total slightly more than C$800M.
- BEP says it plans to use the proceeds to pay down debt and for general corporate purposes; following the offering and concurrent private placement, BAM's interest in BEP will be ~61.4%.