Brookfield Renewable Partners (BEP) said late Thursday it has agreed to issue 200 million Canadian dollars ($142.4 million) worth of fixed-to-fixed reset rate subordinated hybrid notes due 2055.

The company said the notes will bear an annual interest at an initial rate of 5.450% and reset every five years starting 2030 at an annual rate equal to the five-year Government of Canada yield, plus a spread of 2.499%.

The offering is expected to close Dec. 12, the company said.