Brookfield completes C$300 million preferred share issue

On June 5, 2014, Brookfield Asset Management Inc. (Brookfield) completed its previously announced Class A Preference Shares, Series 40 issue in the amount of C$300 million. The offering, announced May 27, 2014, was underwritten by a syndicate led by RBC Capital Markets, CIBC, Scotiabank and TD Securities Inc.

Brookfield issued 12,000,000 Series 40 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 4.50% annually for the initial period ending September 30, 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 2.86%.

Brookfield, headquartered in Toronto, is a global alternative asset manager focused on property, power and infrastructure assets, with over C$175 billion in assets under management.

Further information can be found on Brookfield's website.