Brookfield Renewable Energy Partners L.P.

Brookfield Renewable Energy Partners L.P.

January 31, 2012 15:19 ET

Brookfield Renewable Announces $400 Million Medium-Term Note Offering

HAMILTON, BERMUDA--(Marketwire - Jan. 31, 2012) -

All amounts in Canadian dollars.


Brookfield Renewable Energy Partners L.P. ("Brookfield Renewable") (TSX:BEP.UN) today announced that it has agreed to sell an aggregate principal amount of $400 million of medium-term notes, Series 8, due February 2022, which will bear interest at a rate of 4.79% per annum, payable semi-annually (the "Notes"). The Notes will be fully and unconditionally guaranteed by Brookfield Renewable and certain of its key holding subsidiaries.

The Notes will be issued pursuant to a short form base shelf prospectus dated January 23, 2012, a related prospectus supplement dated January 31, 2012 and a related pricing supplement to be dated January 31, 2012. The issue is expected to close on or about February 7, 2012, subject to customary closing conditions.

Brookfield Renewable intends to use the net proceeds from the sale of the Notes to refinance existing indebtedness and for general corporate purposes.

The Notes have been rated BBB (stable outlook) by Standard & Poor's Rating Services and BBB (high) with a stable trend by DBRS Limited.

The Notes are being offered through a syndicate of agents led by CIBC World Markets Inc. and RBC Dominion Securities Inc., and includes Scotia Capital Inc., TD Securities Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc. and HSBC Securities (Canada) Inc.

This news release shall not constitute an offer of securities for sale in the United States. The Notes offered will not be and have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold into the United States absent registration or an exemption from registration. There shall not be any public offering of the Notes in the United States.

Brookfield Renewable Energy Partners (TSX:BEP.UN) operates one of the largest publicly-traded, pure-play renewable power platforms globally. Its portfolio is primarily hydroelectric and includes 172 hydropower facilities, six wind farms, and totals approximately 5,000 megawatts of installed capacity. Diversified across 67 river systems and 10 power markets in Canada, the United States and Brazil, the portfolio generates enough electricity from renewable resources to power two million homes on average each year. With a fully-contracted portfolio of high-quality assets and strong growth prospects, the business is positioned to generate stable, long-term cash flows supporting regular and growing cash distributions to unitholders. For more information, please visit

Note: This news release contains forward-looking statements and information within the meaning of the Canadian securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Forward-looking statements in this news release include statements regarding the closing and use of proceeds of the offering. Forward-looking statements can be identified by the use of words such as "will", "expected", "intend", "continue", "positioned" and "targets", or variations of such words and phrases. Although Brookfield Renewable believes that such forward-looking statements and information are based upon reasonable assumptions and expectations, no assurance is given that such expectations will prove to have been correct. The reader should not place undue reliance on forward-looking statements and information as such statements and information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Brookfield Renewable to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information. Except as required by law, Brookfield Renewable does not undertake any obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise.

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