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Brookfield Corporation Announces Pricing of $700 Million Subordinated Notes Due 2055

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Brookfield Corporation
Brookfield Corporation

BROOKFIELD, NEWS, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Brookfield Corporation (“Brookfield”) (NYSE: BN, TSX: BN) today announced the pricing of a public offering of $700 million principal amount of subordinated notes due 2055 (the “notes”).

The notes will bear interest at an annual rate of 6.300% until January 15, 2035 and thereafter will be reset every five years at an annual rate equal to the five-year U.S. treasury rate, plus a spread of 2.076%; provided, that the interest rate during any five-year interest period will not reset below 6.300%.

The notes will be issued by Brookfield Finance Inc., an indirect 100% owned subsidiary of Brookfield, and will be fully and unconditionally guaranteed, on a subordinated basis, by Brookfield. The net proceeds from the sale of the notes will be used for general corporate purposes. The offering is expected to close on December 17, 2024, subject to the satisfaction of customary closing conditions.

The notes are being offered under Brookfield and the issuer’s existing base shelf prospectus filed in the United States and Canada. In the United States, the notes are being offered pursuant to an effective registration statement on Form F-10 by Brookfield and the issuer with the U.S. Securities and Exchange Commission (File No. 333-279601). The offering is being made only by means of a prospectus supplement relating to the offering of the notes. You may obtain these documents for free on EDGAR at www.sec.gov/edgar or on SEDAR+ at www.sedarplus.ca. Before you invest, you should read these documents and other public filings by Brookfield for more complete information about Brookfield and this offering.

Alternatively, copies can be obtained from:

BofA Securities, Inc.
NC1-022-02-25
201 North Tryon Street
Charlotte, NC 28255-0001
Attn: Prospectus Department
Telephone: 1-800-294-1322
Email: dg.prospectus_requests@bofa.com

Citigroup Global Markets Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: 1-800-831-9146
Email: prospectus@citi.com

 

 

This news release does not constitute an offer to sell or the solicitation of an offer to buy the notes described herein, nor shall there be any sale of these notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The notes being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the base shelf prospectus or the prospectus supplement.