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Brookfield Asset Management Inc Completes CAD250 Million Preferred Share Issue

Wednesday, 12 Sep 2012 08:48am EDT 

Brookfield Asset Management Inc announced the completion of its previously announced Class A Preference Shares, Series 34 issue in the amount of CAD250,000,000. Brookfield issued 10,000,000 Series 34 Shares at a price of CAD25.00 per share, for total gross proceeds of CAD250,000,000. Holders of the Series 34 Shares will be entitled to receive a cumulative quarterly fixed dividend yielding 4.20% annually for the initial period ending March 31, 2019. Thereafter, the dividend rate will be reset every five years at a rate equal to the five year Government of Canada bond yield plus 2.63%. The Series 34 Shares will commence trading on the Toronto Stock Exchange this morning under the ticker symbol BAM.PF.B.