Brookfield Asset Management Announces Pricing of US$200 Million Note Offering

BROOKFIELD, NEWS, Nov. 17, 2020 (GLOBE NEWSWIRE) -- Brookfield Asset Management Inc. (“Brookfield”) (TSX: BAM.A, NYSE: BAM) today announced that it has priced a public offering of $200 million aggregate principal amount of fixed rate perpetual subordinated notes (the “notes”). The underwriters for the offering were granted an option, exercisable for 30 days from November 17, 2020, to purchase up to an additional $30 million aggregate principal amount of notes solely to cover over-allotments.

The notes will have a coupon of 4.50%. The notes will be issued by Brookfield Finance I (UK) plc, an indirect 100% owned subsidiary of Brookfield, and will be fully and unconditionally guaranteed, on a subordinated basis, by Brookfield. The net proceeds from the sale of the notes will be used to finance and/or refinance recently completed and future Eligible Green Projects. The offering is expected to close on or about November 24, 2020.

Wells Fargo Securities, LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and RBC Capital Markets, LLC are acting as joint book-running managers for the offering.

The notes are being offered pursuant to an effective registration statement filed with the U.S. Securities and Exchange Commission on September 29, 2020, as amended on October 6, 2020. The offering will be made only by means of a prospectus supplement relating to the offering of the notes. You may obtain these documents for free on EDGAR at www.sec.gov. Before you invest, you should read these documents and other public filings by Brookfield for more complete information about Brookfield and this offering.

Alternatively, copies can be obtained from:

Wells Fargo Securities, LLC 608 2nd Avenue South, Suite 1000 Minneapolis, MN 55402 Attn: WFS Customer Service Telephone: [phone] Email: [e-mail]

This news release does not constitute an offer to sell or the solicitation of an offer to buy the notes described herein, nor shall there be any sale of these notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The notes being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the registration statement or the prospectus supplement.