Brookfield Announces Redemption of its 4.54% Notes due March 31, 2023

Rhea-AI Summary

Brookfield Asset Management announced the redemption of its C$600 million principal amount of 4.54% Notes due March 31, 2023, to take place on May 13, 2021. The redemption price will include accrued interest as stipulated in the trust indenture. Notice of this redemption has been sent to CDS Clearing and Depository Services Inc. and the trustee. Brookfield manages US$600 billion in assets globally across various sectors, including real estate and renewable power, offering alternative investment products to a wide range of institutional investors.

Positive

• Brookfield manages US$600 billion in a diversified asset portfolio.
• Redemption of C$600 million Notes may optimize the company’s capital structure.

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• None.

All amounts in Canadian dollars unless otherwise stated.

BROOKFIELD NEWS, April 12, 2021 (GLOBE NEWSWIRE) -- Brookfield Asset Management Inc. (TSX: BAM.A, NYSE: BAM) announced today that it has exercised its right to redeem its C$600,000,000 principal amount of 4.54% Notes due March 31, 2023 (the “Notes”) on May 13, 2021.

The redemption price for the Notes will be determined in accordance with the provisions of the trust indenture dated September 20, 1995 and the seventeenth supplemental indenture dated September 12, 2012 and will include accrued and unpaid interest on the Notes up to, but not including, the redemption date.

Notice of redemption has been sent today to CDS Clearing and Depository Services Inc. (“CDS”), and the trustee, Computershare Trust Company of Canada. Non-registered holders (banks, brokerage firms or other financial institutions) who maintain their interests in the Notes through CDS should contact their CDS customer service representative with any questions about the redemption.

Brookfield Asset Management Inc. is a leading global alternative asset manager with US$600 billion of assets under management across real estate, infrastructure, renewable power, private equity and credit. Brookfield owns and operates long-life assets and businesses, many of which form the backbone of the global economy. Utilizing its global reach, access to large-scale capital and operational expertise, Brookfield offers a range of alternative investment products to investors around the world—including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors. Brookfield Asset Management is listed on the New York and Toronto stock exchanges under the symbols BAM and BAM.A, respectively.

For more information, please contact:

Communications & Media: Claire Holland Tel: (416) 369-8236 Email: claire.holland@brookfield.com

Investor Relations Linda Northwood Tel: (416) 359-8647 Email: linda.northwood@brookfield.com

FAQ

What is the amount of the Notes redeemed by Brookfield Asset Management?

Brookfield Asset Management redeemed C$600 million of its 4.54% Notes.

When is the redemption date for the 4.54% Notes?

The redemption date for the 4.54% Notes is May 13, 2021.

What interest rate was applied to the redeemed Notes?

The redeemed Notes had an interest rate of 4.54%.

How does the redemption affect Brookfield Asset Management's financial position?

The redemption may optimize Brookfield's capital structure by reducing debt.