Brookfield Corporation has announced the pricing of a $700 million senior note offering at an annual interest rate of 6.350%, due in 2034. The company aims to use the proceeds to refinance existing debts, including those maturing in 2024, and to maintain low maturities until late in 2025. The offering, which is expected to close on December 4, 2023, is issued by Brookfield Finance Inc., a wholly-owned subsidiary, and is fully guaranteed by Brookfield Corporation.
The notes are part of a broader financial strategy, with the offering made under an existing North American shelf prospectus. The related SEC registration statement was initially filed on September 2, 2022, and amended on September 16, 2022. The offering documents are available online through regulatory platforms such as EDGAR or SEDAR+, or directly from the underwriters, BofA Securities and Citigroup Global Markets.
Brookfield operates across various sectors, including Asset Management, Insurance Solutions, and Operating Businesses, focusing on generating long-term shareholder returns. The company maintains a strong balance sheet and is committed to sustaining considerable free cash flow.
The announcement contains forward-looking statements regarding the use of proceeds and the expected closing date. These statements are based on current management estimates, but they are subject to market risks and uncertainties that could affect actual outcomes.
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