BEPC - Brookfield Renewable Announces Renewal of Normal Course Issuer Bids | Benzinga

All amounts in US dollars unless otherwise indicated

BROOKFIELD, News, Dec. 14, 2023 (GLOBE NEWSWIRE) -- Brookfield Renewable today announced that the Toronto Stock Exchange (the "TSX") has accepted notices filed by

1. Brookfield Renewable Partners L.P. (TSX:BEP, NYSE:BEP) ("BEP") of its intention to renew its normal course issuer bids for its limited partnership units ("LP Units") and Class A preferred limited partnership units ("Preferred Units");
2. Brookfield Renewable Corporation (TSX:BEPC, NYSE:BEPC) ("BEPC" and together with BEP, "Brookfield Renewable") of its intention to renew its normal course issuer bid for its outstanding class A exchangeable subordinate voting shares ("Exchangeable Shares"); and
3. Brookfield Renewable Power Preferred Equity Inc. ("BRP Equity") of its intention to renew its normal course issuer bid for its outstanding Class A preference shares ("Preferred Shares"). BRP Equity is a wholly-owned subsidiary of BEP.
   

Brookfield Renewable believes that in the event that the LP Units, Preferred Units, Exchangeable Shares or Preferred Shares trade in a price range that does not fully reflect their value, the acquisition of such securities may represent an attractive use of available funds. There are currently four series of Preferred Units and five series of Preferred Shares outstanding and listed on the TSX.

Under BEP's normal course issuer bid for LP Units, BEP is authorized to repurchase up to 14,361,497 LP Units, representing 5% of its issued and outstanding LP Units. At the close of business on December 6, 2023, there were 287,229,948 LP Units issued and outstanding. Under BEP's normal course issuer bid, it may repurchase up to 56,459 LP Units on the TSX during any trading day, which represents 25% of the average daily trading volume of 225,839 LP Units for the six months ended November 30, 2023.

Under BEPC's normal course issuer bid for Exchangeable Shares, BEPC is authorized to repurchase up to 8,982,586 Exchangeable Shares, representing 5% of its issued and outstanding Exchangeable Shares. At the close of business on December 6, 2023, there were 179,651,726 Exchangeable Shares issued and outstanding. Under BEPC's normal course issuer bid, it may repurchase up to 54,658 Exchangeable Shares on the TSX during any trading day, which represents 25% of the average daily trading volume of 218,634 Exchangeable Shares for the six months ended November 30, 2023.

Under BEP's normal course issuer bid for Preferred Units, BEP is authorized to repurchase a total of approximately 10% of the public float of each respective series of the Preferred Units as follows:

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