Brookfield Corporation Announces Pricing of $450 Million Notes Due
2035 and $200 Million Re-Opening of Notes Due 2054
Brookfield Corporation (“Brookfield”) (NYSE: BN, TSX: BN) today
announced the pricing of a public offering of $450 million
principal amount of senior notes due 2035 (the “2035 notes”), which
will bear interest at a rate of 5.675% per annum, and the pricing
of a $200 million re-opening of its 5.968% notes due 2054 (the
“2054 notes” and together with the 2035 notes, the “notes”).
The 2054 notes will form part of the same series
as the already outstanding US$750 million principal amount of
5.968% notes due 2054 (the “existing notes”), which were issued on
March 4, 2024. After giving effect to the re-opening, the aggregate
principal amount of the series will be US$950 million. The terms of
the 2054 notes will be identical to the existing notes, other than
the issue date and the issue price. The 2054 notes will be issued
at a price equal to 101.435% of their face value plus accrued and
unpaid interest from March 4, 2024 (the issue date of the
existing notes) through, but excluding, the date of delivery of
such notes, with an effective yield of 5.864%, if held to
maturity.
The notes will be issued by Brookfield Finance
Inc., an indirect 100% owned subsidiary of Brookfield, and will be
fully and unconditionally guaranteed 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 June 21,
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 Forms
F-10 and F-3 filed 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:
Deutsche Bank Securities Inc.1 Columbus CircleNew
York, NY 10019Attn.: Prospectus GroupTelephone:
1-800-503-4611Email: prospectus.CPDG@db.com |
BofA Securities, Inc.NC1-022-02-25201 North Tryon
StreetCharlotte, NC 28255-0001Attn: Prospectus DepartmentTelephone:
1-800-294-1322Email: dg.prospectus_requests@bofa.com |
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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.
About Brookfield
Corporation
Brookfield Corporation is a leading global
investment firm focused on building long-term wealth for
institutions and individuals around the world. We have three core
businesses: Alternative Asset Management, Wealth Solutions, and our
Operating Businesses which are in renewable power, infrastructure,
business and industrial services, and real estate.
We have a track record of delivering 15%+
annualized returns to shareholders for over 30 years, supported by
our unrivaled investment and operational experience. Our
conservatively managed balance sheet, extensive operational
experience, and global sourcing networks allow us to consistently
access unique opportunities. At the center of our success is the
Brookfield Ecosystem, which is based on the fundamental principle
that each group within Brookfield benefits from being
part of the broader organization. Brookfield
Corporation is publicly traded in New
York and Toronto (NYSE: BN, TSX: BN).
Please note that Brookfield Corporation’s
previous audited annual and unaudited quarterly reports have been
filed on EDGAR and SEDAR+ and can also be found in the investor
section of its website at www.brookfield.com. Hard copies of
the annual and quarterly reports can be obtained free of charge
upon request.
For more information, please contact:
Media: |
Investor Relations: |
Kerrie McHugh |
Linda Northwood |
Tel: (212) 618-3469 |
Tel: (416) 359-8647 |
Email:kerrie.mchugh@brookfield.com |
Email:linda.northwood@brookfield.com |
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Forward-Looking Statements
This news release contains “forward-looking
information” within the meaning of Canadian provincial securities
laws and “forward-looking statements” within the meaning of the
U.S. Securities Act of 1933, the U.S. Securities Exchange Act of
1934, “safe harbor” provisions of the United States Private
Securities Litigation Reform Act of 1995 and in any applicable
Canadian securities regulations (collectively, “forward-looking
statements”). Forward-looking statements include statements that
are predictive in nature, depend upon or refer to future results,
events or conditions, and include, but are not limited to,
statements which reflect management’s current estimates, beliefs
and assumptions and which are in turn based on our experience and
perception of historical trends, current conditions and expected
future developments, as well as other factors management believes
are appropriate in the circumstances. The estimates, beliefs and
assumptions of Brookfield are inherently subject to significant
business, economic, competitive and other uncertainties and
contingencies regarding future events and as such, are subject to
change. Forward-looking statements are typically identified by
words such as “expect”, “anticipate”, “believe”, “foresee”,
“could”, “estimate”, “goal”, “intend”, “plan”, “seek”, “strive”,
“will”, “may” and “should” and similar expressions. In particular,
the forward-looking statements contained in this news release
include statements referring to the offering, the use of proceeds
from the offering and the expected closing date of the
offering.
Although Brookfield believes that such
forward-looking statements are based upon reasonable estimates,
beliefs and assumptions, certain factors, risks and uncertainties,
which are described from time to time in our documents filed with
the securities regulators in Canada and the United States, not
presently known to Brookfield, or that Brookfield currently
believes are not material, could cause actual results to differ
materially from those contemplated or implied by forward-looking
statements.
Readers are urged to consider these risks, as
well as other uncertainties, factors and assumptions carefully in
evaluating the forward-looking statements and are cautioned not to
place undue reliance on such forward-looking statements, which are
based only on information available to us as of the date of this
news release. Except as required by law, Brookfield undertakes no
obligation to publicly update or revise any forward-looking
statements, whether written or oral, that may be as a result of new
information, future events or otherwise.
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