Brookfield Completes C$250 Million Preferred Share Issue

Executive Summary

• Brookfield Corporation completed a C$250 million issuance of 10 million Class A Preference Shares, Series 54 at C$25.00 per share.
• The shares carry a cumulative quarterly dividend yielding 5.65% annually through Dec 31 2030, after which the rate resets every five years.
• Net proceeds will be used to redeem all outstanding Series 44 preferred shares on Dec 31 2025 at C$25.00 per share.

Key Details

• Offering size: C$250 million gross proceeds.
• Shares issued: 10,000,000 Preferred Shares, Series 54 (including 2,000,000 exercised underwriters’ option).
• Price per share: C$25.00.
• Underwriting syndicate: Scotiabank, BMO Capital Markets, CIBC Capital Markets, National Bank Financial Inc., RBC Capital Markets, TD Securities Inc.; bought‑deal basis.
• Dividend terms: 5.65% annual cumulative quarterly dividend until Dec 31 2030; thereafter reset every five years to the greater of (i) 5‑year Canada government bond yield + 2.80%, or (ii) 5.65%.
• Trading ticker: BN.PF.M on the Toronto Stock Exchange, effective the morning of issuance.
• U.S. restrictions: Shares may not be offered/sold in the United States or to U.S. persons without registration or an exemption.
• Use of proceeds: Full redemption of outstanding Cumulative Class A Preference Shares, Series 44 (ticker BN.PF.H) on Dec 31 2025 at a redemption price of C$25.00 per share.
• Additional dividend for Series 44 holders: Quarterly dividend of C$0.3125 per share payable on Dec 31 2025 to holders of record as of Dec 15 2025.

Notable Quotes

(No direct quotes were provided in the release.)