Brookfield Asset Management Inc
			Symbol			BAM.A
			Shares Issued			572,042,872
			Close 2009-11-19			C$ 22.18
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Brookfield completes recapitalization of Babcock

2009-11-20 08:13 ET - News Release

Also News Release (C-BIP) Brookfield Infrastructure Partners LP

Mr. Sam Pollock of Brookfield Asset reports

BROOKFIELD ASSET MANAGEMENT AND BROOKFIELD INFRASTRUCTURE PARTNERS COMPLETES RECAPITALIZATION OF BABCOCK & BROWN INFRASTRUCTURE

Brookfield Asset Management Inc. and Brookfield Infrastructure Partners LP, together with Brookfield Asset Management Inc., have completion the recapitalization of Babcock & Brown Infrastructure (BBI). Concurrently with the closing, BBI was renamed Prime Infrastructure.

In total, Brookfield invested $1.1-billion in the recapitalization of BBI. Brookfield's newly acquired portfolio of infrastructure assets is diversified across asset classes, geographies and regulatory regimes. As a result of the recapitalization, Prime Infrastructure has a strong balance sheet. Its proportional debt leverage decreased from 98 per cent to approximately 68 per cent, and it has over $400-million (Australian) of liquidity including a newly established three-year $300-million (Australian) corporate credit facility.

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