Brookfield to Issue CDN$200 Million in Preferred Shares

August 24, 2012

On August 23, 2012, Brookfield Asset Management Inc. (TSX: BAM.A) announced that it had agreed to issue 8,000,000 Class A Preferred Shares, Series 34 on a bought deal basis to a syndicate of underwriters led by TD Securities Inc., CIBC, RBC Capital Markets and Scotia Capital Inc.  The shares will be sold to the public for CDN$25.00 per share.

On August 23, 2012, Brookfield Asset Management Inc. (TSX: BAM.A) announced that it had agreed to issue 8,000,000 Class A Preferred Shares, Series 34 on a bought deal basis to a syndicate of underwriters led by TD Securities Inc., CIBC, RBC Capital Markets and Scotia Capital Inc.  The shares will be sold to the public for CDN$25.00 per share, raising aggregate gross proceeds of CDN$200 million.  The holders of the Preferred Shares will be entitled to a cumulative quarterly fixed dividend yielding 4.20% annually for an initial period ending March 31, 2019; following such period, the dividend rate will reset every five years at a rate equal to the 5-year Government of Canada bond yield plus 2.63%.  The underwriters have been granted an option to purchase up to an additional 2 million Preferred Shares, exercisable until 48 hours prior to closing.  Brookfield intends to use the proceeds raised to redeem its Class A Preference Shares, Series 11 and for other corporate purposes and expects to close on or around September 15, 2012.  Brookfield is a global alternative asset manager with approximately $150 million in assets under management.

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Investment Manager Financings, Transactions