Brookfield Asset Management Announces Pricing of US$600 Million Note Offering
19 February 2020 - 9:10AM
Brookfield Asset Management Inc. (“Brookfield”) (TSX: BAM.A, NYSE:
BAM) today announced the pricing of its previously announced public
offering of notes due 2050 (the “notes”). The size of the offering
will be US$600 million.
The notes will have a coupon of 3.450% and will
be issued at a price equal to 99.058% of their face value for an
effective yield of 3.501%. The notes will be issued by Brookfield
Finance LLC, 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 to redeem all of
the outstanding Cdn$350 million aggregate principal amount of
5.30% notes due March 1, 2021 issued by Brookfield and the
remainder for general corporate purposes. The offering is expected
to close on or about February 21, 2020.
The notes will be offered under Brookfield
Finance LLC’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 filed with
the U.S. Securities and Exchange Commission on January 31, 2020, as
amended on February 11, 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 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.60 Wall StreetNew York, New York
10005-2836Telephone: 1-800-503-4611Email:
prospectus.CPDG@db.com |
BofA Securities, Inc.NC1-004-03-43200 North College Street, 3rd
floor,Charlotte NC 28255-0001Attn: Prospectus DepartmentTelephone:
1-800-294-1322Email: dg.prospectus_requests@bofa.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.
Brookfield Asset
ManagementBrookfield Asset Management Inc. is a leading
global alternative asset manager with over US$540 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 Inc. is listed on
the New York and Toronto stock exchanges under the symbols BAM and
BAM.A, respectively.
For more information, please contact:
Media |
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Investor Relations |
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Claire Holland Vice President, Communications & Branding
Tel: +1 416 369 8236 Email: claire.holland@brookfield.com |
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Linda Northwood Director, Investor Relations Tel: +1 416 359 8647
Email: 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 the Company’s Annual Report on Form
40-F filed with the Securities and Exchange Commission as well as
other documents filed by the Company 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, the Company
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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