Brookfield to Issue $105.6 Million Class A Preferred Shares
MT Newswires Live
Oct 15
Brookfield (BN) agreed to issue 6 million Class A preferred shares, on a bought-deal basis, to a syndicate of underwriters for a total of 150 million Canadian dollars ($105.6 million), the company said Thursday.
The company also granted the underwriters an option to purchase up to 2 million additional preferred shares of the same series, potentially increasing the offering size to CA$200 million if fully exercised, according to the statement.
Brookfield expects to close the offering on or about Oct. 22 and said proceeds will be used for general corporate purposes.
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