Results Of Tender Offer Related To Tender Offer For Series A, B And C Notes Of White Pine Hydro, LLC

Results Of Tender Offer Related To Tender Offer For Series A, B And C Notes Of
                            White Pine Hydro, LLC

PR Newswire

TORONTO, March 4, 2013

TORONTO, March 4, 2013 /PRNewswire/ --BIF II US Renewable LLC (the
"Offeror"), an affiliate of Brookfield Renewable Energy Partners, announced
today that as of 11:59 p.m., New York City Time, on March 1, 2013 (the
"Expiration Time"), its tender offer for $575,000,000 aggregate principal
amount currently outstanding of the 6.31% Series A Notes due 2017 (the "Series
A Notes"), 6.61% Series B Notes due 2027 (the "Series B Notes") and 6.96%
Series C Notes due 2037 (the "Series C Notes") (collectively, the "Notes") of
White Pine Hydro, LLC (the "Issuer"), has expired, and $503,900,000, or 87.63%
of the Notes (the "Tendered Notes"), have been tendered and accepted for
purchase pursuant to the Offeror's previously announced cash tender offer for
any and all of the Notes (the "Tender Offer") and solicitation of consents
(the "Consent Solicitation"), as described in the Offer to Purchase and
Consent Solicitation Statement, dated January 31, 2013, as supplemented by
Supplement No. 1, dated February 14, 2013 (as supplemented, the "Statement"),
and a related Consent and Letter of Transmittal, dated January 31, 2013.

Under the terms of the Tender Offer, holders of the Series A Notes that
validly tendered and did not withdraw their Notes prior to 5:00 p.m. New York
City time, on February 22, 2013, (the "Early Consent Expiration ") are
entitled to receive the Total Consideration (as set forth in the Statement) of
$1,032.89 per $1,000.00 aggregate principal amount tendered of Notes, which
included an early consent payment of $32.89 per $1,000.00 aggregate principal
amount tendered of Notes. Holders of the Series B Notes that validly tendered
and did not withdraw their Notes prior to the Early Consent Expiration are
entitled to receive the Total Consideration of $1,033.26 per $1,000.00
aggregate principal amount of Notes, which included an early consent payment
of $33.26 per $1,000.00 aggregate principal amount of Notes. Holders of the
Series C Notes that validly tendered and did not withdraw their Notes prior to
the Early Consent Expiration are entitled to receive the Total Consideration
of $1,033.70 per $1,000.00 aggregate principal amount of the Notes, which
included an early consent payment of $33.70 per $1,000.00 aggregate principal
amount of Notes.

All holders of Tendered Notes will receive accrued and unpaid interest from
the last interest payment date to, but not including the settlement date,
which is expected to occur on or about March 6, 2013.

This news release does not constitute a notice of redemption under the
optional redemption provision of the Indenture, nor does it constitute an
offer to sell or the solicitation of an offer to buy any securities of the
Offeror or the Issuer. Nor is it an offer to sell securities or a solicitation
of an offer to buy securities in any state or jurisdiction where prohibited by
law. The Tender Offer and Consent Solicitation were made pursuant to the
Statement and the related consent and letter of transmittal, copies of which
have been delivered to all Holders. Persons with questions regarding the
Tender Offer and Consent Solicitation should contact the Tender Agent and
Information Agent, D.F. King & Co., Inc. at (800) 758-5378 (toll free).

Cautionary Statement Regarding Forward-Looking Information

Forward-looking information provided in this news release relating to the
Offeror's expectations regarding the Tender Offer, Consent Solicitation and
the Offeror's or the Issuer's future prospects and financial position are
forward-looking information within the meaning of applicable United States
securities laws. The Offeror believes that expectations reflected in such
information are reasonable, but no assurance is given that such expectations
will be correct. Forward-looking information is based on the Offeror's beliefs
and assumptions based on information available at the time the assumption was
made and on management's experience and perception of historical trends,
current conditions and expected further developments as well as other factors
deemed appropriate in the circumstances. Investors are cautioned that there
are risks and uncertainties related to such forward-looking information and
actual results may vary. The forward-looking information is made as of the
date of this news release and neither the Offeror nor the Issuer assumes any
obligation to update or revise them to reflect new events or circumstances,
except as explicitly required by securities laws.



SOURCE Brookfield Renewable Energy Partners

Contact: BIF II US Renewable LLC, Zev Korman, Director, Investor Relations,
+1-416-359-1955, zev.korman@brookfield.com
 
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