BAM Investments calls debentures exchangeable for Brookfield Asset Management

By Angela McDaniels

Tacoma, Wash., Jan. 28 - BAM Investments Corp. will redeem all of its previously issued exchangeable debentures on Friday, according to a company news release.

The debentures were issued in January 2007 and are exchangeable into 5,301,000 class A limited voting shares of Brookfield Asset Management Inc.

The redemption price will be satisfied by the delivery of the underlying Brookfield shares to the debenture holders.

The company said the redemption will simplify its corporate structure and reduce interest costs by about C$1.5 million per year.

BAM Investments is based in Toronto, and its principal investment is a net interest in 55.1 million Brookfield shares.

Brookfield is a Toronto-based investment firm specializing in property, power and infrastructure assets.

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