Brookfield Asset Management completes C$250 million preference share offering

On October 29, 2010, Brookfield Asset Management Inc. (TSX: BAM.A) completed an offering of 10,000,000 preference shares, Series 26 at a price of C$25.00 per share, for aggregate gross proceeds of C$250 million. Holders of the preference shares, Series 26 will be entitled to receive a cumulative quarterly fixed dividend yielding 4.50% annually for the initial period ending March 31, 2017. Thereafter, the dividend rate will be reset every five years at a rate equal to the 5-year Government of Canada bond yield plus 2.31%.

The offering was underwritten by a syndicate of underwriters led by CIBC World Markets Inc., RBC Dominion Securities 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., Desjardins Securities Inc., Dundee Securities Corporation and Macquarie Capital Markets Canada Ltd.

Further information is found on Brookfield's website.

Brookfield Asset Management, headquartered in Toronto, is a global asset management company focused on property, power and infrastructure assets.