Transaction|September 12, 2012
Brookfield Asset Management completes C$250 million offering of preferred shares
Torys acted as counsel to Brookfield Asset Management with a team that included Adam Armstrong, Jonathan Cescon, Paulina Taneva and Mark Di Giovanni
On September 12, 2012, Brookfield Asset Management Inc. (Brookfield) completed its previously announced Class A Preference Shares, Series 34 issue in the amount of C$250 million.
Brookfield issued 10,000,000 Series 34 Shares at a price of C$25 per share, for total gross proceeds of C$250 million. Holders of the Series 34 Shares are entitled to receive a cumulative quarterly fixed dividend yielding 4.20% annually for the initial period ending March 31, 2019. Thereafter, the dividend rate will be reset every five years at a rate equal to the 5-year Government of Canada bond yield plus 2.63%. The Series 34 Shares commenced trading on the Toronto Stock Exchange under the ticker symbol BAM.PF.B.
Brookfield Asset Management, headquartered in Toronto, is a global alternative asset management company focused on property, power and infrastructure assets.
Further information can be found on Brookfield's website.
Brookfield issued 10,000,000 Series 34 Shares at a price of C$25 per share, for total gross proceeds of C$250 million. Holders of the Series 34 Shares are entitled to receive a cumulative quarterly fixed dividend yielding 4.20% annually for the initial period ending March 31, 2019. Thereafter, the dividend rate will be reset every five years at a rate equal to the 5-year Government of Canada bond yield plus 2.63%. The Series 34 Shares commenced trading on the Toronto Stock Exchange under the ticker symbol BAM.PF.B.
Brookfield Asset Management, headquartered in Toronto, is a global alternative asset management company focused on property, power and infrastructure assets.
Further information can be found on Brookfield's website.