Brookfield completes C$250 million preferred share issue

On October 2, 2015, Brookfield Asset Management Inc. (Brookfield) completed its previously announced Class A Preference Shares, Series 44 issue in the amount of C$250 million. The offering, announced September 24, 2015, was underwritten by a syndicate led by Scotiabank, CIBC, RBC Capital Markets, and TD Securities Inc.

Brookfield issued 10,000,000 Series 42 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 5.00% annually for the initial period ending December 31, 2020. Thereafter, the dividend rate will be reset every five years at a rate equal to the greater of: (i) the 5-year Government of Canada bond yield plus 4.17%, and (ii) 5.00%.

Brookfield Asset Management is a global alternative asset manager with over C$200 billion in assets under management.

Further information can be found on Brookfield's website.