Brookfield Asset Management Prices Public Offering of 4.7% Notes Due 2047 for USD550 Million

Published: Sep 11 2017
Deal Summary

Brookfield Asset Management Inc., an asset management company, through its financial arm Brookfield Finance Inc., has priced the public offering of 4.7% senior unsecured notes due September 20 2047, for gross proceeds of USD550 million. The notes will be issued at 99.219% of the principle amount and will yield 4.749% upon maturity.

Interest on notes will be paid semi-annually on March 20 and September 20, of each year, commencing on March 20, 2018. The notes will be fully and unconditionally guaranteed as to payment of principal, premium and interest and certain other amounts by the company.

The company may redeem the notes, prior to March 20, 2047, at treasury rate plus 30 basis points, and at any time on or after March 20, 2047, at 100% of the principal amount of the notes to be redeemed.

Earlier, the company agreed to issue notes due 2047, for gross proceeds of USD500 million.

Deutsche Bank Securities Inc. and HSBC Securities (USA) Inc. are acting as joint book-running managers; Banco Bradesco BBI S.A., BNP Paribas Securities Corp, Itau BBA USA Securities, Inc., Mizuho Securities USA LLC, MUFG Securities Americas Inc., Natixis Securities Americas LLC, Santander Investment Securities Inc., SG Americas Securities, LLC and SMBC Nikko Securities America, Inc. are acting as co-managers to the company for the offering.

The company intends to use the proceeds for general corporate purposes.

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