12:17:22 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Brookfield Asset Management Inc
Symbol BAM
Shares Issued 627,925,923
Close 2014-09-30 C$ 50.28
Market Cap C$ 31,572,115,408
Recent Sedar Documents

Brookfield Asset arranges $200-million financing

2014-10-01 08:32 ET - News Release

Mr. Andrew Willis reports

BROOKFIELD TO ISSUE C$200 MILLION OF PREFERRED SHARES

Brookfield Asset Management Inc. has agreed to issue eight million Class A preferred shares, Series 42, on a bought deal basis to a syndicate of underwriters led by TD Securities Inc., RBC Capital Markets, CIBC and Scotiabank for distribution to the public. The preferred shares, Series 42, will be issued at a price of $25 per share, for gross proceeds of $200-million. Holders of the preferred shares, Series 42, will be entitled to receive a cumulative quarterly fixed dividend yielding 4.50 per cent annually for the initial period ending June 30, 2020. Thereafter, the dividend rate will be reset every five years at a rate equal to the five-year government of Canada bond yield plus 2.84 per cent.

Brookfield has granted the underwriters an option, exercisable until 48 hours prior to closing, to purchase up to an additional two million preferred shares, Series 42, which, if exercised, would increase the gross offering size to $250-million. The preferred shares, Series 42, will be offered in all provinces of Canada by way of a supplement to Brookfield's existing short form base shelf prospectus.

Brookfield intends to use the net proceeds of the issue of preferred shares, Series 42, for general corporate purposes. The offering of preferred shares, Series 42, is expected to close on or about Oct. 8, 2014.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.