Brookfield Renewable slips on $500 mln equity offering to fund acquisition

Brookfield Renewable

13/06/2023 13:29

** Shares of Brookfield Renewable  BEP.N   BEPC.N  down more
than 4% premarket on acquisition-related equity raise
    ** Brookfield late Mon announced concurrent public offerings
of $500 mln to help fund its approx $1.1 bln buy of Duke
Energy's  DUK.N  Commercial Renewables unit
    ** Offerings comprise combination of BEP LP units and BEPC
common shares at $30.35 and $33.80 vs their respective closing
prices of $31.63 and $35.20 on Mon
    ** Scotiabank, BMO, TD Securities, CIBC and RBC leading the
offerings
    ** Through Mon close, BEP up ~25% and BEPC up ~28% YTD   

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))