Brookfield prices upsized $1 billion notes; ConnectOne to sell fixed-rate notes due 2028

By Devika Patel

Knoxville, Tenn., Jan. 11 – Thursday saw one new primary deal price, with Toronto-based alternative asset manager Brookfield Asset Management Inc. subsidiary Brookfield Finance Inc. pricing an upsized $1 billion of guaranteed senior notes in two parts, including an add-on.

The issuer initially planned to sell $750 million of the notes.

Brookfield sold $650 million of 3.9% notes at a spread of Treasuries plus 140 basis points. These notes priced at 99.654 to yield 3.942%.

The company also sold $350 million of 4.7% notes at a 170-bps spread over Treasuries. These notes priced at 101.963 to yield 4.577%.

Deutsche Bank Securities Inc. and BofA Merrill Lynch are the joint bookrunners.

Also, Englewood Cliffs, N.J., bank holding company ConnectOne Bancorp, Inc. reported that it will sell fixed-to-floating rate subordinated notes due 2028.

The notes will bear interest at a fixed rate until 2023 and then at a rate based on Libor.

Keefe, Bruyette & Woods, a Stifel Co., is the bookrunner.

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