On November 27, 2023, Brookfield Finance Inc. (“BFI”), a subsidiary of Brookfield Corporation, announced a $700 million (C$952.9 million) offering of 6.350% notes due January 5, 2034, which closed on December 4, 2023. The notes, fully and unconditionally guaranteed by Brookfield Corporation, pay interest semi-annually starting July 5, 2024, and may be redeemed at a premium before October 5, 2033, or at par thereafter. The net proceeds of $694.8 million (C$945.5 million) will be used to refinance existing indebtedness. The notes were offered through BofA Securities, Citigroup Global Markets, Morgan Stanley, SMBC Nikko Securities America, Banco Bradesco BBI, BNP Paribas Securities, Desjardins Securities, Itau BBA USA Securities, Mizuho Securities USA, MUFG Securities Americas, National Bank of Canada Financial, Natixis Securities Americas, Santander US Capital Markets, and SG Americas Securities. Merrill Lynch Canada and Citigroup Global Markets Canada acted as dealers for the Canadian offering. Underwriting fees totaled $4.55 million (C$6.2 million), and the notes had an effective yield of 6.350%.

Legal advisors were Torys LLP for BFI; Goodmans LLP and Skadden, Arps, Slate, Meagher & Flom LLP for the underwriters. The notes were delivered via The Depository Trust Company (DTC) and received ratings of A3 (Moody’s), A- (S&P, Fitch), and A (DBRS). Exchange rates used were based on the Bank of Canada’s November 24, 2023, rate of C$1.00 = US$0.7341.