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Financings

Brookfield to issue $200M pref shares, redeem $200M

By The Northwire Desk — AI Analysis Nov 19, 2025 · 18:47 BN · 61.46 Brookfield Corp
BN · Price

Executive Summary

  • Brookfield Corporation is issuing 8 million Class A preference shares, Series 54, in a bought-deal offering to raise C$200 million in gross proceeds.
  • The company intends to use the net proceeds to redeem a minimum of C$200 million of its outstanding Class A preference shares, Series 44, on December 31, 2025.
  • The underwriters have been granted an option to purchase up to an additional 2 million shares, which would increase the total gross proceeds to C$250 million.

Key Details

  • Security Issued: 8 million Class A preference shares, Series 54.
  • Offering Price: $25.00 per share.
  • Gross Proceeds: C$200 million (base); up to C$250 million if the over-allotment option is exercised in full.
  • Dividend Terms (Series 54): Cumulative quarterly fixed dividend yielding 5.65% annually for the initial period ending December 31, 2030. Thereafter, the rate resets every five years to the greater of: (i) the five-year Government of Canada bond yield plus 2.80%, or (ii) 5.65%.
  • Use of Proceeds: Redemption of a minimum of C$200 million of outstanding Class A preference shares, Series 44.
  • Redemption Details (Series 44):
    • Redemption Date: December 31, 2025.
    • Redemption Price: $25.00 per share.
    • If the option is exercised in full, all Series 44 shares will be redeemed.
    • Record Date for Dividend: December 15, 2025.
    • Dividend Amount: 31.25 cents per share, payable on December 31, 2025.
  • Underwriters: Scotiabank, BMO Capital Markets, CIBC Capital Markets, National Bank Financial Inc., RBC Capital Markets, and TD Securities Inc.
  • Over-Allotment Option: Option to purchase up to 2 million additional Series 54 shares, exercisable until 48 hours prior to closing.
  • Closing Date: Expected on or about November 26, 2025.
  • Jurisdiction: Offered in all provinces of Canada via a supplement to the existing short form base shelf prospectus dated May 31, 2024. Not offered in the United States.
Read the original news release →

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