PrefBlog

Brookfield Asset Management has announced:

its intention to redeem all of its outstanding Class A Preference Shares, Series 21 (“Preferred Shares, Series 21”) (TSX:BAM.PR.O) for cash on June 30, 2013. The redemption price for each share will be C$25.00. Holders of Preferred Shares, Series 21 will separately receive all accrued and unpaid interest outstanding on the redemption date. 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 issue of the Series 37 shares has been reported on PrefBlog.

So … they’re refunding a 5.00% Retractible with a 4.90% Straight Perpetual. A nice day’s work!

This entry was posted on Tuesday, May 28th, 2013 at 2:46 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.