Brookfield Renewable Power Inc.

Brookfield Renewable Power Inc.

April 09, 2009 10:05 ET

Brookfield Renewable Power Announces C$100 Million Notes Issue

TORONTO, ONTARIO--(Marketwire - April 9, 2009) -


Brookfield Renewable Power Inc. ("Brookfield Renewable" or the "Company") today announced an offering of C$100 million of Medium Term Notes ("notes") due February 3, 2012 with a purchase yield of 7.88%.

The notes will have the same coupon of 8.75%, as well as the same terms and conditions as the Company's notes issued in February 2009, but will be issued at a price of $102.136. The notes will be issued pursuant to Brookfield Renewable's Short Form Base Shelf Prospectus dated July 28, 2008 and a Second Amended and Restated Prospectus Supplement to be filed on or before April 9, 2009. The offering is expected to close on April 13, 2009, subject to customary closing conditions.

Net proceeds will be used to repurchase for cancellation approximately $65 million of the Company's 4.65% Series 1 notes and for general corporate purposes.

The notes have been assigned a rating of BBB (high) with a Stable trend by Dominion Bond Rating Service Limited, a rating of BBB with a Stable outlook by Standard & Poor's Rating Services, and BBB with a Stable outlook by Fitch Ratings Ltd.

The notes are being offered through a syndicate of agents led by CIBC World Markets Inc. and Scotia Capital Inc.

This news release does not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. The securities being offered have not been approved or disapproved by any regulatory authority nor has any such authority passed upon the accuracy or adequacy of the short form base shelf prospectus or the prospectus supplement. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Brookfield Renewable Power

Brookfield Renewable Power Inc., wholly-owned by Brookfield Asset Management Inc., has more than 100 years of experience as an owner, operator and developer of hydroelectric power facilities. Its total portfolio includes more than 165 generating facilities with approximately 4,100 megawatts of capacity. It also has a significant hydroelectric and wind project pipeline. Brookfield Renewable Power's operations are primarily located in North America and Brazil. Brookfield Asset Management Inc., focused on property, power and infrastructure assets, has approximately US$80 billion of assets under management and is listed on the New York and Toronto Stock Exchanges under the symbols BAM and BAM.A, respectively, and on Euronext Amsterdam under the symbol BAMA. For more information, please visit Brookfield Renewable Power's website at and Brookfield Asset Management's website at

Forward Looking Statement

Certain information regarding Brookfield Renewable contained herein may constitute forward-looking statements. Forward looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. The words "will", "intends" and "expected" which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify forward-looking statements. Forward looking statements in this press release include statements regarding the closing of the offering and its impact on the business, operations and financial condition of Brookfield Renewable. Although Brookfield Renewable believes that its anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, it can give no assurance 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.

Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include: the risk that the offering does not close, the behaviour of financial markets including fluctuations in interest and exchange rates, risks of equipment failure and other risks and factors detailed from time to time in Brookfield Renewable's Annual Information Form filed with the securities regulators in Canada under the heading "Risk Factors". We caution that the foregoing list of important factors that may affect future results is not exhaustive. Except as required by law, Brookfield Renewable undertakes no 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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