NEW YORK - Brookfield Corporation (NYSE: BN, TSX: BN), a global wealth management firm, announced Monday the pricing of a public offering of senior notes valued at $750 million with a 5.968% annual interest rate, maturing in 2054. The notes, to be issued by Brookfield Finance Inc., a wholly-owned subsidiary of Brookfield, come with a full guarantee from the parent company.
The net proceeds from this offering are earmarked for general corporate purposes. The closing of the offering is anticipated around March 4, 2024, provided customary closing conditions are met.
The issuance is part of an existing base shelf prospectus in the United States and Canada. In the U.S., the offering is in line with a registration statement filed with the U.S. Securities and Exchange Commission in September 2022.
Interested investors can access the prospectus supplement and related documents through the EDGAR and SEDAR+ platforms. Wells Fargo (NYSE:WFC) Securities, LLC and SMBC Nikko Securities America, Inc. are managing the distribution of the notes.
Brookfield Corporation, with dual listings on the New York and Toronto stock exchanges, manages a vast pool of capital, investing in real assets vital to the global economy.
The firm aims to deliver robust risk-adjusted returns to stakeholders through direct capital investment, its asset management arm with over $900 billion in assets under management, and an insurance solutions business with $60 billion in assets.
The company has set a long-term goal of achieving annualized returns exceeding 15% for its shareholders. However, it's important to note that the notes have not been approved or disapproved by any regulatory authority, nor have any such authorities commented on the prospectus's accuracy or adequacy.
This news release contains forward-looking statements regarding the offering's details and the use of proceeds, which are subject to change based on various factors and risks. Brookfield advises readers to consider these factors cautiously and not to rely solely on forward-looking statements, which are based on information available as of the date of the news release.
The information reported here is based on a press release statement from Brookfield Corporation.
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