Brookfield plans 2028 notes add-on, 2052 notes for green investments

By Marisa Wong

Los Angeles, Feb. 2 – Brookfield Finance Inc. plans to price additional 3.9% notes due Jan. 25, 2028 and new notes due 2052, according to a supplement filed with the Securities and Exchange Commission.

Brookfield Finance currently has $650 million of the 2028 notes outstanding.

Both tranches will be guaranteed by Brookfield Asset Management Inc.

The 2028 notes will feature a make-whole call until Oct. 25, 2027 and a par call after that. The 2052 notes will have a make-whole call until six months prior to maturity and then a par call.

The notes are putable at 101 upon a change of control. The notes are also callable in the event that certain changes affecting Canadian income taxation occur.

Citigroup Global Markets Inc. and SMBC Nikko Securities America, Inc. are the joint bookrunners.

Proceeds from the 2028 notes will be used for general corporate purposes. Proceeds from the 2052 notes will be used to finance or refinance eligible investments in the categories of green buildings, renewable energy generation, energy efficiency and management and sustainable water and waste management.

Brookfield is an alternative asset manager based in Toronto.

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