Partners Value Split completes C$150,000,000 public offering of Class AA preferred shares, Series 14

On September 27, 2024, Partners Value Split Corp. (“Partners Value”) announced that it completed the issuance of 6,000,000 Class AA preferred shares, Series 14 at an offering price of C$25.00 per share, for gross proceeds of C$150,000,000. The issuance included 1,000,000 shares issued pursuant to the exercise, in full, of the underwriters’ option granted to the underwriters in the offering. The preferred shares carry quarterly fixed cumulative preferential dividends representing a 5.50% annualized yield on the offering price and have a final maturity of June 30, 2030.

The net proceeds of the offering (including proceeds from the over-allotment) will be used in connection with its redemption of its outstanding Class AA Preferred Shares, Series 8 and to pay a special dividend on its capital shares.

Further information can be found on Globe Newswire’s website.

Partners Value Split owns a portfolio consisting of approximately 120 million Class A limited voting shares of Brookfield Corporation and approximately 30 million Class A Limited Voting Shares of Brookfield Asset Management Ltd. (collectively, the “Brookfield Securities”) which generate cash flow through dividend payments that fund quarterly fixed cumulative preferential dividends for the holders of the company's preferred shares, and provide the holders of the company's capital shares the opportunity to participate in any capital appreciation in the Brookfield Securities.