Brookfield Asset Management places USD-400m green bond

Canada’s Brookfield Asset Management (TSE:BAM.A) has raised USD 400 million (EUR 339.8m) in a public offering of 4.625% subordinated green notes.

The notes mature on October 16, 2080. They were issued by the Canadian firm’s subsidiary Brookfield Finance Inc and are fully guaranteed, on a subordinated basis, by the parent company, the latter said on Friday. It added that this is its maiden green subordinated notes issue.

The net proceeds from the deal will be earmarked for financing and refinancing of projects that were recently completed by Brookfield, as well as for future green projects. The company currently has close to USD 550 billion of assets under management, including renewables.

JP Morgan Securities LLC, BofA Securities Inc, RBC Capital Markets LLC and Wells Fargo Securities LLC acted as joint bookrunning managers for the placement.

Brookfield noted that the securities were not offered or sold in Canada or to any Canadian residents.

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