BROOKFIELD Corp /ON/ (BN) Form 6-K — Oct 15, 2026
Brookfield Corporation announced a bought deal to issue 6 million Class A Preference Shares, Series 56 at C$25.00 per share for gross proceeds of C$150 million, led by RBC Capital Markets, BMO, CIBC, National Bank Financial, Scotiabank and TD Securities. The shares carry a cumulative quarterly fixed dividend yielding 5.65% annually through December 31, 2031, after which the rate resets every five years at the greater of the 5-year Government of Canada bond yield plus 2.15% and 5.65%. Underwriters hold an option for up to 2 million additional shares, which would lift the offering to C$200 million.
Key figures
- Gross Proceeds
- C$150,000,000
- Offering Price
- C$25.00 per share
- Shares Offered
- 6000000
- Dividend Rate
- 5.65% annually (initial period to Dec 31, 2031)
- Reset Formula
- greater of 5-year Government of Canada bond yield plus 2.15% and 5.65%, reset every 5 years
- Expected Close
- on or about October 22, 2026
- Greenshoe Shares
- 2000000
- Max Gross Proceeds
- C$200,000,000
AI analysis
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