BROOKFIELD, NEWS, Nov. 27, 2023 (GLOBE NEWSWIRE) -- Brookfield Corporation
("Brookfield") (NYSE: BN, TSX: BN) today announced the pricing of a public
offering of $700 million principal amount of senior notes due 2034 (the
"notes"), which will bear interest at a rate of 6.350% per annum.
The net proceeds from the sale of the notes will be used to refinance existing
indebtedness, including upcoming 2024 maturities, and will leave only modest
maturities through to the end of 2025. The notes will be issued by Brookfield
Finance Inc., an indirect 100% owned subsidiary of Brookfield, and will be fully
and unconditionally guaranteed by Brookfield. The offering is expected to close
on or about December 4, 2023, subject to the satisfaction of customary closing
conditions.
The notes are being offered under Brookfield and the issuer's existing base
shelf prospectus filed in the United States and Canada. In the United States,
the notes are being offered pursuant to an effective registration statement
filed by Brookfield and the issuer with the U.S. Securities and Exchange
Commission on September 2, 2022 and amended on September 16, 2022. The offering
is being made only by means of a prospectus supplement relating to the offering
of the notes. You may obtain these documents for free on EDGAR at www.sec.gov or
on SEDAR+ at www.sedarplus.com. Before you invest, you should read these
documents and other public filings by Brookfield for more complete information
about Brookfield and this offering.
Alternatively, copies can be obtained from:
BofA Securities, Inc. Citigroup Global Markets Inc.
NC1-022-02-25 c/o Broadridge Financial Solutions
201 North Tryon Street 1155 Long Island Avenue
Charlotte, NC 28255-0001 Edgewood, NY 11717
Attn: Prospectus Department Telephone: 1-800-831-9146
Telephone: 1-800-294-1322 Email: prospectus@citi.com
Email: dg.prospectus_requests@bofa.com
This news release does not constitute an offer to sell or the solicitation of an
offer to buy the notes described herein, nor shall there be any sale of these
notes in any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
such jurisdiction. The notes being offered have not been approved or disapproved
by any regulatory authority, nor has any such authority passed upon the accuracy
or adequacy of the base shelf prospectus or the prospectus supplement.
About Brookfield Corporation
Brookfield Corporation (NYSE: BN, TSX: BN) is focused on compounding capital
over the long term to earn attractive total returns for our shareholders. Today,
our capital is deployed across three businesses - Asset Management, Insurance
Solutions and our Operating Businesses, generating substantial and growing free
cashflows, all of which is underpinned by a conservatively capitalized balance
sheet.
For more information, please contact:
Communications & Media Investor Relations
Kerrie McHugh Hayes Linda Northwood
Tel: (212) 618-3469 Tel: (416) 359-8647
Email: kerrie.mchugh@brookfield.com Email: linda.northwood@brookfield.com
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of
Canadian provincial securities laws and "forward-looking statements" within the
meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of
1934, "safe harbor" provisions of the United States Private Securities
Litigation Reform Act of 1995 and in any applicable Canadian securities
regulations (collectively, "forward-looking statements"). Forward-looking
statements include statements that are predictive in nature, depend upon or
refer to future results, events or conditions, and include, but are not limited
to, statements which reflect management's current estimates, beliefs and
assumptions and which are in turn based on our experience and perception of
historical trends, current conditions and expected future developments, as well
as other factors management believes are appropriate in the circumstances. The
estimates, beliefs and assumptions of Brookfield are inherently subject to
significant business, economic, competitive and other uncertainties and
contingencies regarding future events and as such, are subject to change.
Forward-looking statements are typically identified by words such as "expect",
"anticipate", "believe", "foresee", "could", "estimate", "goal", "intend",
"plan", "seek", "strive", "will", "may" and "should" and similar expressions. In
particular, the forward-looking statements contained in this news release
include statements referring to the offering, the use of proceeds from the
offering and the expected closing date of the offering.
Although Brookfield believes that such forward-looking statements are based upon
reasonable estimates, beliefs and assumptions, certain factors, risks and
uncertainties, which are described from time to time in our documents filed with
the securities regulators in Canada and the United States, not presently known
to Brookfield, or that Brookfield currently believes are not material, could
cause actual results to differ materially from those contemplated or implied by
forward-looking statements.
Readers are urged to consider these risks, as well as other uncertainties,
factors and assumptions carefully in evaluating the forward-looking statements
and are cautioned not to place undue reliance on such forward-looking
statements, which are based only on information available to us as of the date
of this news release. Except as required by law, Brookfield undertakes no
obligation to publicly update or revise any forward-looking statements, whether
written or oral, that may be as a result of new information, future events or
otherwise.
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