Brookfield Renewable Issues 5.318% Medium Term Notes Due 2054
Ticker: BEPJ · Form: 6-K · Filed: Jan 11, 2024 · CIK: 1533232
Complexity: moderate
Sentiment: neutral
Topics: debt-issuance, corporate-finance, fixed-income
TL;DR
**Brookfield Renewable just issued new 5.318% debt due 2054.**
AI Summary
Brookfield Renewable Partners L.P. filed a 6-K on January 11, 2024, announcing a Third Supplemental Indenture dated January 10, 2024. This indenture, between Brookfield Renewable Partners ULC and Computershare Trust Company of Canada, provides for the issuance of 5.318% Medium Term Notes, Series 17, due January 10, 2054. This matters to investors because it indicates the company is taking on new debt to finance its operations or growth, which could impact future earnings and the company's financial leverage.
Why It Matters
This filing signals Brookfield Renewable Partners L.P. is raising capital through debt, which can fund new projects but also adds to the company's financial obligations and interest expense.
Risk Assessment
Risk Level: medium — Issuing new debt increases the company's leverage, which can be a medium risk depending on the company's ability to generate sufficient cash flow to cover interest payments and principal.
Analyst Insight
Investors should monitor Brookfield Renewable Partners L.P.'s upcoming earnings reports for details on how the proceeds from these new notes are being utilized and the impact on the company's debt-to-equity ratio and interest coverage.
Key Numbers
- 5.318% — Interest Rate (The annual interest rate for the newly issued Medium Term Notes, Series 17.)
- January 10, 2054 — Maturity Date (The date when the principal amount of the Medium Term Notes, Series 17, becomes due.)
Key Players & Entities
- Brookfield Renewable Partners L.P. (company) — Registrant and parent company
- Brookfield Renewable Partners ULC (company) — Issuer of the notes
- Computershare Trust Company of Canada (company) — Trustee for the notes
- James Bodi (person) — Vice President who signed the filing
- 5.318% (dollar_amount) — Interest rate of the Medium Term Notes
- January 10, 2054 (date) — Maturity date of the Medium Term Notes
- August 11, 2021 (date) — Date of the original Indenture
Forward-Looking Statements
- Brookfield Renewable Partners L.P. will use the proceeds from these notes to fund renewable energy projects. (Brookfield Renewable Partners L.P.) — medium confidence, target: 2024-12-31
- The company's interest expense will increase due to this new debt issuance. (Brookfield Renewable Partners L.P.) — high confidence, target: 2024-03-31
FAQ
What is the purpose of the Third Supplemental Indenture mentioned in the filing?
The Third Supplemental Indenture, dated January 10, 2024, is between Brookfield Renewable Partners ULC and Computershare Trust Company of Canada, and its purpose is to provide for the issue of 5.318% Medium Term Notes (UNSECURED), Series 17, due January 10, 2054.
Who are the parties involved in this Third Supplemental Indenture?
The parties involved are Brookfield Renewable Partners ULC as the Issuer and Computershare Trust Company of Canada as the Trustee.
What is the interest rate and maturity date of the newly issued notes?
The newly issued notes are 5.318% Medium Term Notes (UNSECURED), Series 17, and they are due on January 10, 2054.
When was the original Indenture, which this supplemental indenture modifies, dated?
The original Indenture that this Third Supplemental Indenture is supplementing was dated as of August 11, 2021.
Who signed the 6-K filing on behalf of Brookfield Renewable Partners L.P. and what is their title?
The 6-K filing was signed by James Bodi, who holds the title of Vice President for Brookfield Renewable Partners L.P.'s general partner, Brookfield Renewable Partners Limited, on January 10, 2024.
Filing Stats: 188 words · 1 min read · ~1 pages · Grade level 12.3 · Accepted 2024-01-10 20:35:30
Filing Documents
- tm243088d1_6k.htm (6-K) — 9KB
- tm243088d1_ex99-1.htm (EX-99.1) — 143KB
- 0001104659-24-003088.txt ( ) — 153KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. BROOKFIELD RENEWABLE PARTNERS L.P. by its general partner, BROOKFIELD RENEWABLE PARTNERS LIMITED Date: January 10, 2024 By: /s/ James Bodi Name: James Bodi Title: Vice President