Medium Term Notes

Medium Term Notes

About the Medium Term Notes

The following is summary information about the Medium Term Notes issued by Brookfield Renewable Energy Partners ULC, a subsidiary of Brookfield Renewable Energy Partners L.P. (BREP). The obligations are guaranteed by BREP and its key holding subsidiaries.

Approximately CAD $1.5 billion of Medium Term Notes are outstanding, as follows:
 
(Amounts in $CAD thousands)
Maturity Date
Amount Interest Rate
5.25% Medium Term Notes, Series 3 November 2018 200,000 5.25%
5.84% Medium Term Notes, Series 4 November 2036 150,000 5.84%
6.132% Medium Term Notes, Series 6 November 2016 300,000 6.132%
5.14% Medium Term Notes, Series 7 October 2020 450,000 5.14%
 4.79% Medium Term Notes, Series 8
February 2022
400,000 4.79%
 Total   1,500,000 5.33%


Information on November 2011 Exchange of Notes


We refer to holders of Series 3, Series 4, Series 6 and Series 7 notes issued by Brookfield Renewable Power Inc. bearing the CUSIP numbers set out below (“Old Notes”) that were exchanged for Series 3, Series 4, Series 6 and Series 7 notes of BRP Finance ULC respectively (the “New Notes”) pursuant to the Combination described in the Information Circular dated September 28, 2011. Generally, for Canadian and United States tax purposes the exchange of an “Old Note” for a “New Note” is a taxable event which may give rise to (i) interest income and (ii) gain or loss based on the holder’s adjusted cost base (or, in the case of a U.S. taxpayer, the adjusted tax basis) of the “Old Note” and the fair market value of the “New Note” at the time of the exchange. See the discussion under the heading “Principal Canadian Federal Income Tax Considerations” at pages 33 to 35 of the Circular and the heading “Principal United States Federal Income Tax Considerations” at pages 35 to 39 of the Circular. BRP Finance ULC estimates the fair market value for the New Notes at the time of issuance to be as follows1:

Notes/Issue
CUSIP - Old Notes
CUSIP - New Notes
New Notes Estimated
Fair Market Value
at Issue Date
5.25% Medium Term Notes, Series 3 112833AB4 05573YAA9 CAD $106.16
5.84% Medium Term Notes, Series 4 112833AA6 05573YAB7 CAD $93.516
6.132% Medium Term Notes, Series 6 112833AF5 05573YAC5 CAD $110.918
5.14% Medium Term Notes, Series 7 11283ZAB3 05573YAD3 CAD $102.246
1Based on bid-quotes at November 23, 2011.