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Brookfield Capital offers guaranteed fixed-rate notes due 2033
By Mary-Katherine Stinson
Lexington, Ky., June 7 – Brookfield Capital Finance LLC plans to offer dollar-denominated notes due June 14, 2033 (Cusip: 11259NAA2), according to a 424B3 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Brookfield Corp.
The offering is expected to be $500 million.
The SEC registered notes will be callable at a make-whole premium until three months before maturity, followed by a par call.
The notes will become putable at 101 if there is a change of control triggering event.
Deutsche Bank Securities Inc. and Wells Fargo Securities, LLC are the joint bookrunners.
This offering will be made in Canada by Wells Fargo Securities Canada, Ltd., a broker-dealer affiliate of Wells Fargo Securities, LLC. Deutsche Bank Securities Inc. will not offer the notes in Canada.
Computershare Trust Co. of Canada is the Canadian trustee and Computershare Trust Co., NA is the U.S. trustee.
Brookfield will use Torys LLP, Herbert Smith Freehills LLP and King & Wood Mallesons for legal counsel. Skadden, Arps, Slate, Meagher & Flom LLP will advise the bookrunners as to U.S. law, while Goodmans LLP will advise them as to Canadian law.
Proceeds will be used to redeem all or a part of the outstanding $750 million 4% senior unsecured notes due April 1, 2024 of Brookfield Finance Inc. and Brookfield Finance LLC.
The issuer is a wholly owned subsidiary of New York-based Brookfield US Capital Corp. which is a wholly owned subsidiary of Brookfield Corp. Brookfield, based in Toronto, is focused on asset management, insurance solutions and its operating businesses.
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