06:41 AM EDT, 07/16/2024 (MT Newswires) -- Brookfieldq Renewable overnight Monday agreed to issue $400 million in medium-term notes.

The offering includes $100 million of Series 17 Notes, due January 10, 2054. A statement said the Notes will have an effective interest rate 1 of 5.417%.

The issue also includes $300 million of Series 18 Notes, due October 20, 2034, which will bear interest at a rate of 4.959% per annum.

It said the Series 17 Notes will be issued as a re-opening on identical terms, other than issue date and the price to the public, to the $400 million principal amount of 5.318% Series 17 Notes that were issued in January 2024. The Series 17 Notes will be issued at a price of C$98.549, plus accrued interest.

Brookfield Renewable Partners, a subsidiary of Brookfield Renewable, will be the issuer of the Notes, which will be fully and unconditionally guaranteed by Brookfield Renewable and certain of its key holding subsidiaries.

The Notes will be issued pursuant to a base shelf prospectus dated September 8, 2023 and a related prospectus supplement and pricing supplements to be dated July 15, 2024. The issue is expected to close on or about July 17, 2024 subject to customary closing conditions.

The Notes have been rated BBB+ by S&P Global Ratings, BBB (high) with a stable trend by DBRS Limited and BBB+ by Fitch Ratings. They are being offered through a syndicate of agents.