Company: BEP
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001533232-25-000006
Chunk: 569

Company: Brookfield Renewable Partners L.P.
Filing Date: 2025-02-28
Form: 20-F
Item: Item 19
Chunk 569
---
4                   2023               
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Authorized corporate credit facilities and related party credit facilities (1)      $           2,450      $           2,375  
  Draws on corporate credit facilities (1)(2)                                         ( 240)                 ( 165)             
  Authorized letter of credit facility                                                500                    500                
  Issued letters of credit                                                            ( 335)                 ( 307)             
  Available portion of corporate credit facilities                                    $           2,375      $           2,403  

(1) Amounts are guaranteed by Brookfield Renewable.

(2) Includes nil 165

Medium-term notes and Hybrid notes

Corporate borrowings are obligations of a finance subsidiary of Brookfield Renewable, Brookfield Renewable Partners ULC (“ Canadian Finco”) (Note 31 - Subsidiary Public Issuers). Canadian Finco may redeem some or all of the borrowings from time to time, pursuant to the terms of the indenture. The balance is payable upon maturity, and interest on corporate borrowings is paid semi-annually. The term notes payable by Canadian Finco are unconditionally guaranteed by Brookfield Renewable, Brookfield Renewable Energy L. P. (“ BRELP”) and certain other subsidiaries.

During the year, Brookfield Renewable issued C$ 500 5.32

During the third quarter of 2024, Brookfield Renewable issued C$ 300 4.96

During the fourth quarter of 2024, Brookfield Renewable issued C$ 200 5.45

  F - 66  

Non-recourse borrowings

Non-recourse borrowings are typically asset-specific, long-term, non-recourse borrowings denominated in the domestic currency of the subsidiary. Non-recourse borrowings in North America and Europe consist of both fixed and floating interest rates indexed to the Secured Overnight Financing Rate (“ SOFR”), the Sterling Overnight Index Average (“ SONIA”), the Euro Interbank Offered Rate (“ EURIBOR”) and the Canadian Overnight Repo Rate Average (“ CORRA”). Brookfield Renewable uses interest rate swap agreements in North America and Europe to minimize its exposure to floating interest rates. Non-recourse borrowings in Brazil consist of floating interest rates of Taxa de Juros de Longo Prazo (“ TJLP”), the Brazil National Bank for Economic Development’s long-term interest rate, or Interbank Deposit Certificate rate (“ CDI”), plus a