Partners Value Split Corp. Announces Completion of US$125,000,000 Public Offering of Class AA Preferred Shares, Series 17

Executive Summary

• Partners Value Split Corp. completed its offering of 5,000,000 Class AA Preferred Shares, Series 17 at US$25.00 each, generating US$125 million in gross proceeds.
• The preferred shares carry a 5.25% annualized fixed cumulative dividend and mature on January 31, 2033; they are now listed on the Toronto Stock Exchange (PVS.PR.V).
• Net proceeds will be used to make distributions to holders of the Company’s capital shares, funded by dividends from its Brookfield securities portfolio.

Key Details

• Offering Size & Price: 5,000,000 Series 17 Preferred Shares at US$25.00 per share.
• Gross Proceeds: US$125,000,000.
• Underwriters’ Option: Full exercise of the option for an additional 1,000,000 shares.
• Dividend Yield: Quarterly fixed cumulative preferential dividend equal to a 5.25% annualized yield on the offering price.
• Maturity Date: January 31, 2033.
• Listing: Toronto Stock Exchange under ticker PVS.PR.V.
• Use of Proceeds: Net proceeds will be distributed to holders of the Company’s capital shares.
• Capital Structure Change: Prior to closing, existing capital shares held by Partners Value Investments Inc. were subdivided so that preferred and capital shares are equal in number.
• Portfolio Funding Source: The Company holds ~179 million Class A Limited Voting Shares of Brookfield Corporation and ~25 million Class A Limited Voting Shares of Brookfield Asset Management Ltd., whose quarterly dividends are expected to fund the preferred‑share dividends and support capital‑share appreciation.
• Contact: CFO Jason Weckwerth – (416) 363‑9491 for offering inquiries.

Notable Quotes

(No direct quotes were provided in the release.)