Transaction|September 9, 2013
Brookfield issues C$425 million in debt securities
Torys acted as counsel to Brookfield Asset Management with a team that included Adam Armstrong, Jonathan Cescon, Leah Frank and David Forrester.
On September 9, 2013, Brookfield Asset Management Inc. (BAM) completed its previously announced offering of C$425 million aggregate principal amount of debt securities, including a C$300 million aggregate principal amount of medium term notes with a March 2024 maturity and a yield of 5.045%, and a C$125 million aggregate principal amount of a reopening of 5.95% debentures with a June 2035 maturity.
The original issuance of the debentures was completed in June 2005. The additional debentures have the same coupon of 5.95% as well as the same terms and conditions as the original debentures, but were issued at a price of C$96.079 plus accrued interest, with an effective yield of 6.282% if held to maturity.
The company intends to use the net proceeds of the issues to repay financial obligations.
Further information can be found on BAM's website.
The original issuance of the debentures was completed in June 2005. The additional debentures have the same coupon of 5.95% as well as the same terms and conditions as the original debentures, but were issued at a price of C$96.079 plus accrued interest, with an effective yield of 6.282% if held to maturity.
The company intends to use the net proceeds of the issues to repay financial obligations.
Further information can be found on BAM's website.