Brookfield Announces Secondary Offering of L.P. Units of Brookfield Renewable Energy Partners

Mon Mar 4, 2013 4:24pm EST

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Brookfield Asset Management Inc.

March 4, 2013 - 04:23:49 PM

Brookfield Announces Secondary Offering of L.P. Units of Brookfield Renewable
Energy Partners

TORONTO, ONTARIO and HAMILTON, BERMUDA--(Marketwire - March 4, 2013) - 


All amounts in Canadian dollars.

Brookfield Renewable Energy Partners L.P. ("Brookfield Renewable")
(TSX:BEP.UN) and Brookfield Asset Management ("Brookfield")
(TSX:BAM.A)(NYSE:BAM)(EURONEXT:BAMA) today announced a bought-deal secondary
offering with a syndicate of underwriters led by Scotiabank, CIBC, RBC Capital
Markets and TD Securities Inc. through which a wholly-owned subsidiary of
Brookfield has agreed to sell 8,065,000 L.P. units of Brookfield Renewable at
an offering price of $31.00 per L.P. unit. The Underwriters have been granted
an over-allotment option to purchase up to an additional 1,209,750 L.P. units
from Brookfield at the offering price, under the same terms, exercisable for a
period of 30 days from closing of the Offering. 

Brookfield currently owns approximately 68% of Brookfield Renewable on a
fully-exchanged basis. Upon the completion of the offering, but before giving
effect to the over-allotment option, it is anticipated that Brookfield will
own, directly and indirectly, 169,685,609 L.P. units, representing
approximately 65% of Brookfield Renewable on a fully-exchanged basis. 

A prospectus supplement to the short form base shelf prospectus of Brookfield
Renewable dated January 23, 2012, relating to the offering will be filed
shortly with Canadian securities regulatory authorities. Closing of the
offering is expected to occur on or about March 13, 2013 and is subject to
certain customary closing conditions. Brookfield Renewable will not receive
any proceeds from this offering.

This news release shall not constitute an offer of securities for sale in the
United States. The L.P. units 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 L.P. units in
the United States.

About Brookfield Renewable Energy Partners

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 totals more than 5,600 megawatts of installed
capacity. Diversified across 69 river systems and 11 power markets in the
United States, Canada and Brazil, the portfolio generates enough electricity
from renewable resources to power more than two million homes on average each
year. With a virtually 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 

About Brookfield Asset Management

Brookfield Asset Management Inc. is a global alternative asset manager with
over $175 billion in assets under management. The company has over a 100-year
history of owning and operating assets with a focus on property, renewable
power, infrastructure and private equity. It has a range of public and private
investment products and services, which leverage its expertise and experience
and provide Brookfield with a competitive advantage in the markets where it
operates. Brookfield is co-listed on the New York and Toronto stock exchanges
under the symbol BAM and BAM.A, respectively, and on NYSE Euronext under the
symbol BAMA. For more information, please visit our website at

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 secondary
offering of L.P. units and Brookfield's ownership position following 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 and Brookfield
Renewable believe 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 and 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, neither
Brookfield nor Brookfield Renewable 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

Brookfield Renewable Energy Partners
Zev Korman
Director, Investor Relations
(416) 359-1955

Investors: Brookfield Asset Management
Katherine Vyse
SVP, Investor Relations
(416) 369-8246

Media: Brookfield Asset Management
Andrew Willis
SVP, Communications & Media
(416) 369-8236
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