New Issue: BAM Straight Perpetual, 4.90%

Brookfield Asset Management has announced:

that it has agreed to issue 6,000,000 4.9% perpetual Class A Preference Shares, Series 37 (“Preferred Shares, Series 37”) on a bought deal basis to a syndicate of underwriters led by CIBC, RBC Capital Markets, Scotiabank and TD Securities for distribution to the public. The Preferred Shares, Series 37 will be issued at a price of C$25.00 per share, for aggregate gross proceeds of C$150,000,000.

Brookfield has granted the underwriters an option, exercisable until 48 hours prior to closing, to purchase up to an additional 2,000,000 Preferred Shares, Series 37 which, if exercised, would increase the gross offering size to C$200,000,000. The Preferred Shares, Series 37 will be offered in all provinces of Canada by way of a supplement to Brookfield Asset Management’s existing short form base shelf prospectus dated June 7, 2011 as amended on June 13, 2012 and December 10, 2012.
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Brookfield intends to use the net proceeds of the issue of Preferred Shares, Series 37 to redeem its Preferred Shares, Series 21 and, to the extent the underwriters’ option is exercised, for general corporate purposes. The offering of Preferred Shares, Series 37 is expected to close on or about June 13, 2013.