QUANTUMONLINE.COM SECURITY DESCRIPTION: Brookfield Renewable Partners L.P., 5.25% Class A Preferred Limited Partnership Units, Series 17, liquidation preference $25 per share, redeemable at the issuer's option on or after 03/31/2025 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 5.25% per annum ($1.3125 per annum or $0.328125 per quarter) will be paid quarterly on 1/31, 4/30, 7/31 & 10/31 to holders of record on the record date That will be the 15th day of the month of the applicable payment date or other date fixed by the BEP General Partner (NOTE: the ex-dividend date is one business day prior to the record date).
Holders of the Preferred Units will receive specific tax information from the company, including a Schedule K-1 which generally would be expected to provide a single income item equal to the preferred return (see page S-40 of the prospectus for details).
The Company may redeem the preferred units before 3/31/2025 at $25 (100%) of their principal amount plus accrued and unpaid dividends, if a tax event occurs; before 3/31/2025 at $25.50 (102%) of their principal amount plus accrued and unpaid dividends if a rating agency event occurs. (see prospectus for further information).
This security was not rated by Moody’s and rated BBB- by S&P at the time of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
