BRF.PR.C Brookfield Renewable Power Preferred Equity Inc

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


Brookfield Renewable Energy Partners (TSX:BEP.UN)(TSX:BRF.PR.C) ("Brookfield
Renewable") today announced the completion of the previously announced offering
of 10,000,000 Class A Preference Shares, Series 3 (the "Series 3 Shares"),
(including 2,000,000 Series 3 Shares sold pursuant to an underwriters' option
that was exercised in full prior to closing), at a price of CDN$25.00 per Series
3 Share, for total gross proceeds of CDN$250,000,000. The offering was
underwritten by a syndicate led by TD Securities Inc., CIBC, RBC Capital Markets
and Scotiabank.


A subsidiary of Brookfield Renewable issued the Series 3 Shares, which are
guaranteed by Brookfield Renewable. Holders of the Series 3 Shares will be
entitled to receive fixed cumulative dividends yielding 4.4% at the issue price
annually and payable quarterly for the initial period ending July 31, 2019.
Thereafter, the dividend rate will be reset every five years at a rate equal to
the then five-year Government of Canada bond yield plus 2.94%.


Brookfield Renewable intends to use the net proceeds of the issue of the Series
3 Shares to repay outstanding indebtedness and for general corporate purposes.


The Series 3 Shares will commence trading today on the Toronto Stock Exchange
under the ticker symbol BRF.PR.C. 


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 approximately 5,000 megawatts of installed
capacity. Diversified across 68 river systems and 10 power markets in the United
States, Canada and Brazil, the portfolio generates enough electricity from
renewable resources to power 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 www.brookfieldrenewable.com.

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