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Brookfield Asset Management Inc to Issue CDN$150 Million of Preferred Shares

Tuesday, 20 Nov 2012 09:40am EST 

Brookfield Asset Management Inc announced that it has agreed to issue 6,000,000 4.85% perpetual Class A Preferred Shares, Series 36 on a bought deal basis to a syndicate of underwriters led by Scotiabank, CIBC, RBC Capital Markets and TD Securities Inc. for distribution to the public. The Preferred Shares will be issued at a price of CDN$25.00 per share, for aggregate gross proceeds of CDN$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 which, if exercised, would increase the gross offering size to CDN$200,000,000. The Preferred Shares 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. The net proceeds of the issue will be used for general corporate purposes. The offering of Preferred Shares is expected to close on or about November 27, 2012.