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Innergex announces a $50 million bought deal offering of cumulative redeemable fixed-rate preferred shares

Innergex announces a $50 million bought deal offering of cumulative redeemable 
fixed-rate preferred shares 
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION 
IN THE UNITED STATES/ 
LONGUEUIL, QC, Nov. 21, 2012 /CNW Telbec/ - Innergex Renewable Energy Inc. 
(TSX:INE) ("Innergex" or the "Corporation") announces that it has entered 
into an agreement to issue, on a bought deal basis, to a syndicate of 
underwriters co-led by TD Securities Inc., National Bank Financial Inc. and 
BMO Capital Markets for distribution to the public, 2,000,000 Cumulative 
Redeemable Fixed-Rate Preferred Shares Series C (the "Series C Shares"). The 
Series C Shares will be issued at a price of $25.00 per Series C Share, for 
aggregate gross proceeds of $50,000,000. The underwriters will have an option 
to purchase up to an additional 300,000 Series C Shares from Innergex at a 
price of $25.00 per Series C Share, exercisable in whole or in part at any 
time for a period of up to 30days following closing of the offering, which, 
if exercised in full, would increase the gross offering size to $57,500,000. 
These funds will be used to repay a portion of the Corporation's revolving 
term credit facility and for general corporate purposes. 
Holders of the Series C Shares will be entitled to receive, as and when 
declared by the Board of Directors of Innergex, a cumulative quarterly fixed 
dividend yielding 5.75% annually. The Series C Shares will not be redeemable 
prior to January 15, 2018. On and after January 15, 2018 on not more than 60 
nor less than 30 days' notice, Innergex may, at its option, redeem all or from 
time to time any of the then outstanding Series C Shares upon payment in cash 
for each share so redeemed of an amount equal to $26.00 per share if redeemed 
on or prior to January 15, 2019; at $25.75 if redeemed thereafter and on or 
prior to January15, 2020; at $25.50 if redeemed thereafter and on or prior 
to January15, 2021; at $25.25 if redeemed thereafter and on or prior to 
January 15, 2022; and at $25.00 per share if redeemed thereafter; together, in 
each case, with all accrued and unpaid dividends to the date fixed for 
redemption. The Series C Shares will rank pari passu with all other series of 
preferred shares and in priority to common shares as to the payment of 
dividends and the distribution of assets on dissolution, liquidation, or 
wind-up. 
The Series C Shares will be offered for sale to the public in each of the 
provinces of Canada pursuant to a short form prospectus to be filed with 
Canadian securities regulatory authorities. The offering of Series C Shares is 
expected to close on December 11, 2012, subject to regulatory approvals and 
other customary closing conditions. 
About Innergex Renewable Energy Inc. 
Innergex Renewable Energy Inc. (TSX: INE) is a leading Canadian independent 
renewable power producer. Active since 1990, the Corporation develops, owns, 
and operates run-of-river hydroelectric facilities, wind farms, and solar 
photovoltaic farms and carries out its operations in Quebec, Ontario, British 
Columbia, and Idaho, USA. Its portfolio of assets currently consists of: 
(i)interests in 28 operating facilities with an aggregate net installed 
capacity of 577MW (gross 1,031MW), including 22 hydroelectric operating 
facilities, five wind farms, and one solar photovoltaic farm; (ii) interests 
in eight projects under development or under construction with an aggregate 
net installed capacity of 188MW (gross 263MW), for which power purchase 
agreements have been secured; and (iii) prospective projects with an aggregate 
net capacity totaling 2,904 MW (gross 3,127MW). Innergex Renewable Energy 
Inc. is rated BBB- by S&P and BBB (low) by DBRS. 
The Corporation's strategy for building shareholder value is to develop or 
acquire high-quality facilities generating sustainable cash flows and 
providing a high return on invested capital, and to distribute a stable 
dividend. 
Forward-Looking Information Disclaimer 
In order to inform shareholders and potential investors about the 
Corporation's future prospects, this news release may contain forward-looking 
information within the meaning of securities legislation ("Forward-Looking 
Information"). Forward-Looking Information can generally be identified by the 
use of words and phrases, such as "about", "approximate", "potential", "may," 
"will," "estimate," "anticipate," "plans," "expects" or "does not expect," "is 
expected," "budget," "scheduled," "forecasts," "intends" or "believes," or 
variations of such words and phrases that state that certain events will occur. 
The Forward-Looking Information includes forward-looking financial information 
or financial outlook, within the meaning of securities laws, such as use of 
funds, or impact on the Corporation's capital structure, to inform investors 
and shareholders of the potential financial impact of this bought deal 
financing of fixed-rate preferred shares; such information may not be 
appropriate for other purposes. 
Forward-Looking Information represents, as of the date of this news release, 
the estimates, forecasts, projections, expectations, or opinions of the 
Corporation relating to future events or results. Forward-looking Information 
involves known and unknown risks, uncertainties and other important factors, 
which may cause the actual results or performance to be materially different 
from any future results or performance expressed or implied by the Forward 
Looking Information. The material risks and uncertainties which may cause the 
actual results and developments to be materially different from the current 
expressed expectations in this news release include, without limitation: (i) 
closing of the issuance of the Series C Shares; (ii) execution of strategy; 
(iii) capital resources; (iv) derivative financial instruments; (v) 
availability of water flows, wind and sun light; (vi) failure to close the 
recently announced transactions; (vii) construction and design; (viii) 
development of new facilities; (ix) project performance; * permits; (xi) 
equipment failure; (xii) health, safety and environmental risks; (xiii) 
interest rate and refinancing risk; (xiv) financial leverage and restrictive 
covenants; and (xv) relationship with public utilities. Although the 
Corporation believes that the expectations instigated by the Forward-Looking 
Information are based on reasonable and valid hypotheses, there is a risk that 
the Forward-Looking Information may be incorrect. The reader is cautioned not 
to rely unduly on this Forward-Looking Information. The Forward-Looking 
Information expressed verbally or in writing, by the Corporation or by a 
person acting on its behalf, is expressly qualified by this cautionary 
statement. The Corporation does not undertake any obligation to update or 
revise any Forward-Looking Information, whether as a result of events or 
circumstances occurring after the date hereof, unless required by legislation. 
THIS ANNOUNCEMENT IS NOT AN OFFER TO SELL OR SOLICITATION OF AN OFFER TO BUY 
ANY SECURITIES OF INNERGEX, NOR SHALL IT FORM THE BASIS OF, OR BE RELIED UPON 
IN CONNECTION WITH ANY CONTRACT FOR PURCHASE OR SUBSCRIPTION. THE FIXED-RATE 
PREFERRED SHARES WILL BE OFFERED IN CANADA BY MEANS OF THE PROSPECTUS REFERRED 
TO ABOVE. THIS PRESS RELEASE IS NOT AN OFFER OF SECURITIES FOR SALE IN THE 
UNITED STATES. THE SECURITIES BEING OFFERED HAVE NOT BEEN AND WILL NOT BE 
REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933 AND ACCORDINGLY WILL 
NOT BE OFFERED, SOLD OR DELIVERED, DIRECTLY OR INDIRECTLY WITHIN THE UNITED 
STATES, ITS POSSESSIONS AND OTHER AREAS SUBJECT TO ITS JURISDICTION OR TO, OR 
FOR THE ACCOUNT OR FOR THE BENEFIT OF A U.S. PERSON, EXCEPT IN LIMITED 
CIRCUMSTANCES. 
Jean Trudel, MBA Chief Investment Officer and Senior Vice-President - 
Communications 450-928-2550, ext. 252 jtrudel@innergex.com  Marie-Josée 
Privyk, CFA Director - Investor Relations 450-928-2550, ext. 222 
mjprivyk@innergex.com www.innergex.com 
SOURCE: INNERGEX RENEWABLE ENERGY INC. 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/November2012/21/c9765.html 
CO: INNERGEX RENEWABLE ENERGY INC.
ST: Ontario
NI: UTI NEWSTK FIN  
-0- Nov/21/2012 15:42 GMT