Brookfield completes US$700 million public offering of notes

Torys acted as counsel to Brookfield with a team that included Karrin Powys-Lybbe, Jonathan Cescon, Michael Murphy, Adam Ibrahim, David Singh and James Flynn (Canadian corporate/securities) and Chris Bornhorst, Jude Gee and Maija Fiorante (U.S. corporate/securities).

On December 4, 2023, Brookfield Corporation (“Brookfield”; NYSE: BN, TSX: BN) completed a public offering of US$700 million principal amount of senior notes due January 5, 2034, which bear interest at a rate of 6.350% per annum.

The notes were issued by Brookfield Finance Inc., an indirect 100% owned subsidiary of Brookfield, and are fully and unconditionally guaranteed by Brookfield. The notes were offered under Brookfield and the issuer’s existing base shelf prospectus filed in the United States and Canada. In the United States, the notes were offered pursuant to an effective registration statement filed by Brookfield and the issuer with the U.S. Securities and Exchange Commission. The offering was made only by means of a prospectus supplement relating to the offering of the notes.

Brookfield intends to use the net proceeds from the sale of the notes to refinance existing indebtedness.  

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