BROOKFIELD, NEWS, June 17, 2024 (GLOBE NEWSWIRE) -- Brookfield Corporation
("Brookfield") (NYSE: BN, TSX: BN) today announced the pricing of a public
offering of $450 million principal amount of senior notes due 2035 (the "2035
notes"), which will bear interest at a rate of 5.675% per annum, and the pricing
of a $200 million re-opening of its 5.968% notes due 2054 (the "2054 notes" and
together with the 2035 notes, the "notes").
The 2054 notes will form part of the same series as the already outstanding
US$750 million principal amount of 5.968% notes due 2054 (the "existing notes"),
which were issued on March 4, 2024. After giving effect to the re-opening, the
aggregate principal amount of the series will be US$950 million. The terms of
the 2054 notes will be identical to the existing notes, other than the issue
date and the issue price. The 2054 notes will be issued at a price equal to
101.435% of their face value plus accrued and unpaid interest from March 4, 2024
(the issue date of the existing notes) through, but excluding, the date of
delivery of such notes, with an effective yield of 5.864%, if held to maturity.
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 net proceeds from the sale of the notes will be used for general
corporate purposes. The offering is expected to close on June 21, 2024, 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 on
Forms F-10 and F-3 filed by Brookfield and the issuer with the U.S. Securities
and Exchange Commission (File No. 333-279601). 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/edgar
(http://www.sec.gov/edgar) or on SEDAR+ at www.sedarplus.ca
(http://www.sedarplus.ca). 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:
Deutsche Bank Securities Inc. BofA Securities, Inc.
1 Columbus Circle NC1-022-02-25
New York, NY 10019 201 North Tryon Street
Attn.: Prospectus Group Charlotte, NC 28255-0001
Telephone: 1-800-503-4611 Attn: Prospectus Department
Email: prospectus.CPDG@db.com Telephone: 1-800-294-1322
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 is a leading global investment firm focused on building
long-term wealth for institutions and individuals around the world. We have
three core businesses: Alternative Asset Management, Wealth Solutions, and our
Operating Businesses which are in renewable power, infrastructure, business and
industrial services, and real estate.
We have a track record of delivering 15%+ annualized returns to shareholders for
over 30 years, supported by our unrivaled investment and operational experience.
Our conservatively managed balance sheet, extensive operational experience, and
global sourcing networks allow us to consistently access unique opportunities.
At the center of our success is the Brookfield Ecosystem, which is based on the
fundamental principle that each group within Brookfield benefits from being part
of the broader organization. Brookfield Corporation is publicly traded in New
York and Toronto (NYSE: BN, TSX: BN).
Please note that Brookfield Corporation's previous audited annual and unaudited
quarterly reports have been filed on EDGAR and SEDAR+ and can also be found in
the investor section of its website at www.brookfield.com
(http://www.brookfield.com/). Hard copies of the annual and quarterly reports
can be obtained free of charge upon request.
For more information, please contact:
Media: Investor Relations:
Kerrie McHugh Linda Northwood
Tel: (212) 618-3469 Tel: (416) 359-8647
Email:kerrie.mchugh@brookfield.com Email:linda.northwood@brookfield.com
(mailto:kerrie.mchugh@brookfield.com) (mailto: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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