Brookfield Announces Pricing of US$600 Million Green Note Offering and US$250 Million Re-Opening of 3.500% Notes Due 2051
22 Juli 2021 - 1:25AM
Brookfield Asset Management Inc. (“Brookfield”) (TSX: BAM.A, NYSE:
BAM) today announced the pricing of a public offering of US$600
million principal amount of senior notes due 2032 (the “2032
notes”), which will bear interest at a rate of 2.34% per annum, and
the pricing of a US$250 million re-opening of its 3.500% notes due
2051 (the “2051 notes” and together with the 2032 notes, the
“notes”).
The 2051 notes will form part of the same series
as the already outstanding US$500 million principal amount of
3.500% notes due 2051 (the “existing notes”), which were issued on
September 28, 2020. After giving effect to the re-opening, the
aggregate principal amount of the series will be US$750 million.
The terms of the 2051 notes will be identical to the existing
notes, other than the issue date, the issue price and the date of
the first payment of interest thereon. The 2051 notes will be
issued at a price equal to 104.590% of their face value plus
accrued and unpaid interest from March 30, 2021 (the most recent
interest payment date applicable to the existing notes) through,
but excluding, the date of delivery of such notes, with an
effective yield of 3.255%, if held to maturity.
Brookfield intends to allocate an amount equal
to the net proceeds from the sale of the 2032 notes to the
financing and/or refinancing of recently completed and future
energy efficient green buildings and renewable energy projects or
purchases, including the development and redevelopment of such
buildings and projects. Pending such allocation, the net proceeds
from the sale of the 2032 notes will be temporarily used for
general corporate purposes. The net proceeds from the sale of the
2051 notes will be used for general corporate purposes.
The notes are being offered under an existing
base shelf prospectus filed in Canada. In the United States, the
notes are being offered pursuant to an effective registration
statement filed with the U.S. Securities and Exchange Commission on
September 29, 2020, as amended on October 6, 2020. 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 or on SEDAR at www.sedar.com. 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. |
HSBC
Securities (USA) Inc. |
60 Wall Street |
Attn: Transaction Management Group |
New York, New York 10005-2836 |
452 Fifth Avenue, New York, NY 10018 |
Telephone: 1-800-503-4611 |
Telephone: +1 866-811-8049 |
Email: prospectus.CPDG@db.com |
Email: tmg.americas@us.hsbc.om |
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.
Brookfield Asset Management
Inc. is a leading global alternative asset manager with
over US$600 billion of assets under management across real
estate, infrastructure, renewable power, private equity and credit.
Brookfield owns and operates long-life assets and businesses, many
of which form the backbone of the global economy. Utilizing its
global reach, access to large-scale capital and operational
expertise, Brookfield offers a range of alternative investment
products to investors around the world—including public and private
pension plans, endowments and foundations, sovereign wealth funds,
financial institutions, insurance companies and private wealth
investors. Brookfield Asset Management is listed on
the NYSE and the TSX under the symbols BAM and BAM.A,
respectively.
CONTACTS
Brookfield
Communications & Media: |
Investor Relations: |
Claire Holland |
Linda Northwood |
Tel: +1 416 369-8236 |
+1 416 359-8647 |
Email: claire.holland@brookfield.com |
linda.northwood@brookfield.com |
Forward-Looking StatementsNote:
This news release contains “forward-looking information” within the
meaning of Canadian provincial securities laws and “forward-looking
statements” within the meaning of Section 27A of
the U.S. Securities Act of 1933, as amended, Section 21E
of the U.S. Securities Exchange Act of 1934, as amended,
“safe harbor” provisions of the United States Private Securities
Litigation Reform Act of 1995 and in any applicable Canadian
securities regulations. The word “intends” and derivations thereof
and other expressions that are predictions of or indicate future
events, trends or prospects and which do not relate to historical
matters identify forward-looking statements.
Forward-looking statements in this news release
include statements with respect to the use of proceeds from the
offering described in this news release.
Although Brookfield believes that such forward-looking
statements and information are based upon reasonable assumptions
and expectations, the reader should not place undue reliance on
forward-looking statements and information as such statements and
information involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or
achievements of Brookfield to differ materially from
anticipated future results, performance or achievement expressed or
implied by such forward-looking statements and information.
Factors that could cause actual results to
differ materially from those contemplated or implied by
forward-looking statements include: economic and financial
conditions in the countries in which we do business or may do
business; the behavior of financial markets, including
fluctuations in interest and exchange rates; availability of equity
and debt financing; and other risks and factors in the
prospectus and as detailed from time to time in Brookfield’s
Annual Report on Form 40-F filed with the Securities and Exchange
Commission as well as other documents filed by Brookfield with the
securities regulators in Canada and the United
States.
We caution that the foregoing list of important
factors that may affect future results is not exhaustive. When
relying on our forward-looking statements to make decisions with
respect to Brookfield, investors and others should carefully
consider the foregoing factors and other uncertainties and
potential events. Except as required by law, Brookfield
undertakes no obligation to publicly update or revise any
forward-looking statements or information, whether written or oral,
that may be as a result of new information, future events
or otherwise.