Transaction|October 21, 2010
Brookfield Properties completes C$300 preferred share offering
Torys acted as counsel to Brookfield Office Properties, working with in-house counsel Brett Fox, General Counsel and Chief Compliance and Administrative Officer and Michelle Campbell, Vice President, Compliance and Assistant General Counsel. The Torys team included Michael Siltala, Cornell Wright, Jamie Becker and Tom Miller (corporate/securities), Jim Welkoff and Catrina Card (tax).
On October 21, 2010, Brookfield Properties Corporation (Brookfield Office Properties) (BPO: NYSE, TSX) completed a C$300 million offering of class AAA preference shares, Series P. Holders of the class AAA preference shares, Series P will be entitled to receive a cumulative quarterly fixed dividend yielding 5.15% annually for the initial 6 ½-year period ending March 31, 2017. Thereafter, the dividend rate will be reset every five years at a rate equal to the five-year Government of Canada bond yield plus 3.0%.
The syndicate of underwriters was led by RBC Dominion Securities Inc., CIBC World Markets Inc., Scotia Capital Inc. and TD Securities Inc. and included BMO Nesbitt Burns Inc., National Bank Financial Inc., HSBC Securities (Canada) Inc., Brookfield Financial Corp., Canaccord Genuity Corp., Dundee Securities Corporation and Macquarie Capital Markets Canada Ltd.
Brookfield Office Properties owns, develops and manages premier office properties in the United States, Canada and Australia.
Further information is found on Brookfield's website.
The syndicate of underwriters was led by RBC Dominion Securities Inc., CIBC World Markets Inc., Scotia Capital Inc. and TD Securities Inc. and included BMO Nesbitt Burns Inc., National Bank Financial Inc., HSBC Securities (Canada) Inc., Brookfield Financial Corp., Canaccord Genuity Corp., Dundee Securities Corporation and Macquarie Capital Markets Canada Ltd.
Brookfield Office Properties owns, develops and manages premier office properties in the United States, Canada and Australia.
Further information is found on Brookfield's website.