Business
Great Lakes Hydro Income Fund Refinances $75 Million of Debt
STOCK SYMBOL: GLH.UN/TSX GATINEAU, QC, July 21 /CNW Telbec/ - (GLH.UN) - Great Lakes Hydro Income...
About this update from Brookfield Renewable Partners Lp
[{"type":"text","content":"\n\n\n\nSTOCK SYMBOL: GLH.UN/TSX\n\n\nGATINEAU, QC, July 21 /CNW Telbec/ - (GLH.UN) - Great Lakes Hydro Income\nFund (the "Fund") announced today that its subsidiary, Powell River Energy\nInc., has successfully raised $95 million of first mortgage bonds maturing in\nJuly 2016 to refinance $75 million of mortgage bonds due on July 24, 2009. The\nnew bonds will bear a fixed interest rate of 6.45%, payable semi-annually. The\ntransaction is scheduled to close on July 24, 2009.\n\n\nRichard Legault, President & CEO of Great Lakes Hydro Income Fund stated,\n"This refinancing is further evidence of the quality of the Fund's assets and\nits ability to access the capital markets at attractive rates even during\ntimes of uncertainty."\n\n\nAbout Great Lakes Hydro Income Fund\n\n\nGreat Lakes Hydro (www.greatlakeshydro.com) is a premier Canadian income\nfund and one of the largest power income funds in North America with 1,260\nmegawatts of power generating capacity and average annual production of 4,539\ngigawatt hours.\n\n\nGreat Lakes Hydro Income Fund produces electricity exclusively from\nenvironmentally friendly and renewable resources. The Fund indirectly owns or\nholds interests in 27 high quality hydroelectric generating stations and one\nwind farm in four distinct geographic regions across North America: Quebec,\nOntario, British Columbia and New England.\n\n\nBrookfield Renewable Power, which comprises all the power operations of\nBrookfield Asset Management, owns 50.01% of the Fund's outstanding units on a\nfully exchanged basis.\n\n\nGreat Lakes Hydro Income Fund units are listed for trading on the Toronto\nStock Exchange under the symbol GLH.UN.\n\n\n%SEDAR: 00013106EF\n\n\n","length":1788,"tagName":"div"}]