Brookfield Asset Management has announced:
the completion of its previously announced 4.85% perpetual Class A Preference Shares, Series 36 (“Preferred Shares”) issue in the amount of CDN$200,000,000. Brookfield issued 8,000,000 Preferred Shares at a price of CDN$25.00 per share, for total gross proceeds of CDN$200,000,000. The Preferred Shares will commence trading on the Toronto Stock Exchange this morning under the ticker symbol BAM.PF.C.
BAM.PF.C is a Straight Perpetual, 4.85%, announced November 20. The issue size of $200-million indicates that the greenshoe option was exercised in full.
The issue traded 384,725 shares today in a range of 24.64-95 before closing at 24.70-73, 7×40.
BAM.PF.C will be tracked by HIMIPref™ and initially assigned to the PerpetualDiscount index. Vital statistics are:
Maturity Type : Limit Maturity
Maturity Date : 2042-11-27
Maturity Price : 24.32
Evaluated at bid price : 24.70
Bid-YTW : 4.92 %