Brookfield Asset Management has announced:
the completion of its previously announced 4.90% perpetual Class A Preference Shares, Series 37 (“Preferred Shares”) issue in the amount of C$200,000,000. Brookfield issued 8,000,000 Preferred Shares at a price of C$25.00 per share, for total gross proceeds of C$200,000,000. The Preferred Shares will commence trading on the Toronto Stock Exchange this morning under the ticker symbol BAM.PF.D.
BAM.PF.D is a Straight Perpetual, 4.90%, announced May 28 … just before the floor dropped out of the market. Surprisingly, it seems that the greenshoe was fully exercised, so perhaps the underwriters weren’t left holding the bag on this one.
The issue will be tracked by HIMIPref™ and has been assigned to the PerpetualDiscount subindex.
BAM.PF.D traded 454,120 shares today in a range of 21.75-40 before closing at 22.30-35, 100×5000. Vital statistics are:
Maturity Type : Limit Maturity
Maturity Date : 2043-06-13
Maturity Price : 21.99
Evaluated at bid price : 22.30
Bid-YTW : 5.51 %