Brookfield Announces Pricing of US$400 Million Green Notes Due 2052 and US$400 Million Re-Opening of 3.900% Notes Due 2028
February 02 2022 - 6:16PM
Brookfield (NYSE: BAM, TSX: BAM.A) today announced the pricing of a
public offering of US$400 million principal amount of senior notes
due 2052 (the “2052 notes”), which will bear interest at a rate of
3.625% per annum, and the pricing of a US$400 million re-opening of
its 3.900% notes due 2028 (the “2028 notes” and together with the
2052 notes, the “notes”).
The 2028 notes will form part of the same series
as the already outstanding US$650 million principal amount of
3.900% notes due 2028 (the “existing notes”), which were issued on
January 17, 2018. After giving effect to the re-opening, the
aggregate principal amount of the series will be US$1.05 billion.
The terms of the 2028 notes will be identical to the existing
notes, other than the issue date, issue price and the first payment
of interest thereon. The 2028 notes will be issued at a price equal
to 107.134% of their face value plus accrued and unpaid interest
from January 25, 2022 (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 2.553%, if
held to maturity.
Brookfield intends to allocate an amount equal
to the net proceeds from the sale of the 2052 notes to Eligible
Investments in accordance with Brookfield’s Green Bond Framework,
published in November 2021. Eligible Investments generally include
the financing or refinancing of green buildings, renewable energy
generation, energy efficiency and management, as well as
sustainable water and waste management. Pending such allocation,
the net proceeds from the sale of the 2052 notes will be
temporarily used for general corporate purposes. The net proceeds
from the sale of the 2028 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 and 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:
Citigroup Global Markets Inc. |
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SMBC Nikko Securities America Inc. |
c/o Broadridge Financial Solutions |
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277 Park Avenue |
1155 Long Island Avenue |
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New York, NY 10177 |
Edgewood, NY 11717 |
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Attention: Debt Capital Markets |
Telephone: 1-800-831-9146 |
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Telephone: 1-888-868-6856 |
Email: prospectus@citi.com |
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Email: prospectus@smbcnikko-si.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.
About Brookfield
Brookfield (NYSE: BAM, TSX: BAM.A) is a leading
global alternative asset manager with approximately
US$690 billion of assets under management across real estate,
infrastructure, renewable power and transition, 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.
For more information, please contact:
Media |
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Investor Relations |
Kerrie McHugh |
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Linda Northwood |
Tel: +1 212 618 3469 |
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+1 416 359-8647 |
Email: kerrie.mchugh@brookfield.com |
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linda.northwood@brookfield.com |
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 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.
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