Brookfield Renewable Partners LP - 5% Minimum Rate Reset Preferred Units New Issue
This is only a sample of the article, please login to view the entire article
Brookfield Renewable Partners LP (BEP.UN) is issuing $200M of 5% Minimum Rate Reset Cumulative Preferred Units. The first dividend reset date is Apr-30-2023 at the then efffective 5 year Gov. of Canada bond yield plus 3%, provided the rate is not less than 5%.
On Apr-23-2023 and every five years thereafter, holders have the option to convert into an equal number cumulative floating rate preferred shares with a floating quarterly dividend rate for a quarter equal to the 3-month Government of Canada TBill Rate plus 3%.
Rating: DBRS Pfd-3(High)
You must be a member to view the entire article, please subscribe or login