Brookfield Corporation completes C$250 million preferred share offering

Goodmans LLP acted as counsel for the underwriters in connection with the offering by Brookfield Corporation (“Brookfield”) of 10,000,000 Class A Preference Shares, Series 54 (“Preferred Shares, Series 54”). 

The Preferred Shares, Series 54 will be issued at a price of C$25.00 per share, for aggregate gross proceeds of C$250,000,000. Holders of the Preferred Shares, Series 54 will be entitled to receive a cumulative quarterly fixed dividend yielding 5.65% annually for the initial period ending December 31, 2030. Thereafter, the dividend rate will be reset every five years at a rate equal to the greater of: (i) the 5-year Government of Canada bond yield plus 2.80% and (ii) 5.65%. The Preferred Shares, Series 54 will be offered in all provinces of Canada by way of a supplement to Brookfield's existing short form base shelf prospectus dated May 31, 2024.

Brookfield Corporation is a leading global investment firm focused on building long-term wealth for institutions and individuals around the world.