Brookfield Asset Management Announces Pricing of US$200 Million Note Offering
17 November 2020 - 10:57PM
Brookfield Asset Management Inc. (“Brookfield”) (TSX: BAM.A, NYSE:
BAM) today announced that it has priced a public offering of $200
million aggregate principal amount of fixed rate perpetual
subordinated notes (the “notes”). The underwriters for the offering
were granted an option, exercisable for 30 days from November 17,
2020, to purchase up to an additional $30 million aggregate
principal amount of notes solely to cover over-allotments.
The notes will have a coupon of 4.50%. The notes
will be issued by Brookfield Finance I (UK) plc, 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 to finance
and/or refinance recently completed and future Eligible Green
Projects. The offering is expected to close on or about November
24, 2020.
Wells Fargo Securities, LLC, BofA Securities,
Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and
RBC Capital Markets, LLC are acting as joint book-running managers
for the offering.
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 will be 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. 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:
Wells Fargo Securities, LLC608 2nd Avenue South, Suite
1000Minneapolis, MN 55402Attn: WFS Customer ServiceTelephone:
1-800-645-3751Email: wfscustomerservice@wellsfargo.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
registration statement or the prospectus supplement.
The notes will not be offered or sold, directly
or indirectly, in Canada or to any resident of Canada. Please refer
to the above-mentioned registration statement and prospectus
supplement for further selling restrictions relating to the
offering of the notes (including, inter alia, in relation to the
United Kingdom). Recipients of this news release are deemed to have
had notice of such selling restrictions.
Brookfield Asset Management
Inc.
Brookfield Asset Management is a leading global
alternative asset manager with approximately US$575 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 New
York and Toronto stock exchanges under the symbols BAM and BAM.A,
respectively.
For more information, please contact:
Communications & MediaClaire HollandTel: +1
416 369-8236Email: claire.holland@brookfield.com |
Investor RelationsLinda NorthwoodTel: +1 416
359-8647Email: linda.northwood@brookfield.com |
Forward-Looking Statements
Note: 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 “will” 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 offering, the use of
proceeds from the offering and the expected closing date of 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.
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