Ms. Claire Holland reports
BROOKFIELD ANNOUNCES EXERCISE OF UNDERWRITERS' OPTION
As a result of strong investor demand for Brookfield Asset Management Inc.'s previously announced offering, the underwriters have exercised their option to increase the size of the offering to 12 million Class A preferred shares, Series 48. The Series 48 preferred shares will be issued at a price of $25 per share for gross proceeds of $300-million. The Series 48 preferred shares are being issued on a bought deal basis to a syndicate of underwriters led by CIBC Capital Markets, RBC Capital Markets, Scotiabank and TD Securities Inc. for distribution to the public.
The Series 48 preferred shares 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 Series 48 preferred shares for general corporate purposes. The offering of Series 48 preferred shares is expected to close on or about Sept. 13, 2017.
About Brookfield Asset Management
Inc.
Brookfield Asset Management is a global alternative asset manager with approximately $250-billion (U.S.) in assets under management.
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