Brookfield Corporation announced the pricing of a public offering of $700 million principal amount of subordinated notes due 2055. The notes will bear interest at an annual rate of 6.300% until January 15, 2035, after which the rate will reset every five years.
The notes will be issued by Brookfield Finance Inc., an indirect wholly-owned subsidiary of Brookfield, and will be fully and unconditionally guaranteed on a subordinated basis by Brookfield Corporation. The net proceeds from the sale of these notes are designated for general corporate purposes.
The offering is expected to close on December 17, 2024, subject to customary closing conditions. This financing initiative enhances Brookfield's capital structure and provides additional liquidity to support its ongoing investment and operational activities.
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