Transaction|March 13, 2014
Brookfield completes C$200 million preferred share issue
Torys acted as counsel to Brookfield with a team that included Adam Armstrong, Jonathan Cescon and David Forrester (securities) and Richard Johnson (tax).
On March 13, 2014, Brookfield Asset Management Inc. (Brookfield) completed its previously announced Class A Preference Shares, Series 38 issue in the amount of C$200 million. The offering, announced March 6, 2014, was underwritten by a syndicate led by TD Securities Inc., CIBC, RBC Capital Markets and Scotiabank.
Brookfield issued 8,000,000 Series 38 Preferred Shares at a price of C$25.00 per share. Holders of the shares will be entitled to receive a cumulative quarterly fixed dividend yielding 4.40% annually for the initial period ending March 31, 2020. Thereafter, the dividend rate will be reset every five years at a rate equal to the 5-year Government of Canada bond yield plus 2.55%.
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 Marketwired's website.
Brookfield issued 8,000,000 Series 38 Preferred Shares at a price of C$25.00 per share. Holders of the shares will be entitled to receive a cumulative quarterly fixed dividend yielding 4.40% annually for the initial period ending March 31, 2020. Thereafter, the dividend rate will be reset every five years at a rate equal to the 5-year Government of Canada bond yield plus 2.55%.
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 Marketwired's website.