Mergers & Acquisitions Deal Analysis – Brookfield Renewable Power Fund Announces Bought Deal Public Offering of $239.4 Million
Summary
Brookfield Renewable Power Fund (formerly, Great Lakes Hydro Income Fund), a renewable energy company, announced a bought deal public offering of 10 million series 1 preferred shares at a price of CAD25.00 per share ($23.94 per share) for gross proceeds of CAD250.00 million ($239.40 million). The holders of series 1 preferred shares will have the right to convert their shares into series 2, class A preference share of Brookfield, subject to certain conditions, on April 30, 2015 and on April 30 of every fifth year thereafter. Further, the holders will receive fixed cumulative dividends at an annual rate of CAD1.31 ($1.26) per share, payable quarterly. The series 1 preferred shares will yield 5.25% annually at the issue price, for the initial five-year period ending April 30, 2015 with the first dividend payment date scheduled for April 30, 2010, based on an anticipated closing date of March 10, 2010. Scotia Capital Inc., CIBC World Markets Inc., RBC Capital Markets Inc. and TD Securities Inc. are acting as underwriters for the offering.
Scope
The scope of the report includes –
The Deal Report attempts to focus on the reason raise funds through public offerings by Brookfield Renewable Power Fund
It will allow the reader to:
Summary
Brookfield Renewable Power Fund (formerly, Great Lakes Hydro Income Fund), a renewable energy company, announced a bought deal public offering of 10 million series 1 preferred shares at a price of CAD25.00 per share ($23.94 per share) for gross proceeds of CAD250.00 million ($239.40 million). The holders of series 1 preferred shares will have the right to convert their shares into series 2, class A preference share of Brookfield, subject to certain conditions, on April 30, 2015 and on April 30 of every fifth year thereafter. Further, the holders will receive fixed cumulative dividends at an annual rate of CAD1.31 ($1.26) per share, payable quarterly. The series 1 preferred shares will yield 5.25% annually at the issue price, for the initial five-year period ending April 30, 2015 with the first dividend payment date scheduled for April 30, 2010, based on an anticipated closing date of March 10, 2010. Scotia Capital Inc., CIBC World Markets Inc., RBC Capital Markets Inc. and TD Securities Inc. are acting as underwriters for the offering.
Scope
The scope of the report includes –
- The information related to the public offerings by Brookfield Renewable Power Fund
- A brief on company - Brookfield Renewable Power Fund
- Comparison of equity offerings deals in the renewable energy sector
- The rationale behind offerings by Brookfield Renewable Power Fund
The Deal Report attempts to focus on the reason raise funds through public offerings by Brookfield Renewable Power Fund
It will allow the reader to:
- Analyze similar equity offerings in the renewable energy sector.
- Assists in understanding the Utilisation of the net proceeds generated from the deal.
- Analyze the deal financials and valuation of Brookfield Renewable Power Fund
1 TABLE OF CONTENTS
1.1 List of tables
1.2 List of figures
2 M&A DEAL ANALYSIS – BROOKFIELD RENEWABLE POWER FUND ANNOUNCES BOUGHT DEAL PUBLIC OFFERING OF $239.4 MILLION
2.1 Summary
3 BROOKFIELD RENEWABLE POWER FUND ANNOUNCES BOUGHT DEAL PUBLIC OFFERING OF $239.4 MILLION
3.1 Deal Overview
3.2 Deal In Brief
3.3 Comparable Deals
3.4 About the Company
3.5 Utilization of the Proceeds
3.6 Deal Financials and Valuation
3.6.1 Company Contact Information
3.6.2 Deal Financials
3.6.3 Company Valuation Multiples
4 APPENDIX
4.1 About Alternative Energy eTrack
4.2 Methodology
4.3 Contact Us
4.4 About GlobalData
4.5 Disclaimer
LIST OF TABLES
Table 1: Comparable Equity Offerings in the Renewable Energy Sector
Table 2: Brookfield Renewable Power Fund, Renewable Energy Assets
Table 3: Company Contact Information
Table 4: Financials of the Deal
Table 5: Company Valuation Multiples
LIST OF FIGURES
Figure 1: GlobalData Methodology
1.1 List of tables
1.2 List of figures
2 M&A DEAL ANALYSIS – BROOKFIELD RENEWABLE POWER FUND ANNOUNCES BOUGHT DEAL PUBLIC OFFERING OF $239.4 MILLION
2.1 Summary
3 BROOKFIELD RENEWABLE POWER FUND ANNOUNCES BOUGHT DEAL PUBLIC OFFERING OF $239.4 MILLION
3.1 Deal Overview
3.2 Deal In Brief
3.3 Comparable Deals
3.4 About the Company
3.5 Utilization of the Proceeds
3.6 Deal Financials and Valuation
3.6.1 Company Contact Information
3.6.2 Deal Financials
3.6.3 Company Valuation Multiples
4 APPENDIX
4.1 About Alternative Energy eTrack
4.2 Methodology
4.3 Contact Us
4.4 About GlobalData
4.5 Disclaimer
LIST OF TABLES
Table 1: Comparable Equity Offerings in the Renewable Energy Sector
Table 2: Brookfield Renewable Power Fund, Renewable Energy Assets
Table 3: Company Contact Information
Table 4: Financials of the Deal
Table 5: Company Valuation Multiples
LIST OF FIGURES
Figure 1: GlobalData Methodology