Brookfield Property Finance completes medium term notes issue for an aggregate of C$500 million
On October 19, 2018, Brookfield Property Finance ULC, a subsidiary of Brookfield Property Partners L.P., completed a public offering of C$400 million of medium term notes, Series 2, due 2021 (the "2021 notes") and a C$100 million re-opening of medium term notes, Series 1, due 2023 (the "additional 2023 notes"). The notes are fully and unconditionally guaranteed by Brookfield Property Partners L.P. and certain of its key holding subsidiaries.
The 2021 notes have a coupon of 4.115% and the additional 2023 notes have a coupon of 4.346% and were issued at a price equal to 99.889% of their face value for an effective yield of 4.371%. The additional 2023 notes will form the same series as the already outstanding C$300 million principal amount of 4.346% notes due 2023, Series 1, issued on July 3, 2018, and offered on the same terms.
The net proceeds of the offering will be used for general corporate purposes.
Brookfield Property Partners is one of the world's largest commercial real estate companies, with approximately US$69 billion in total assets.