Brookfield Asset Management Ltd. is returning to the debt market with two senior unsecured note offerings due in 2031 and 2036.
The 2036 notes carry a fixed coupon of 5.298% and will be issued as an additional tranche of the same series as Brookfield’s existing US$400 million of 5.298% notes due January 15, 2036, first sold on November 18, 2025. After this new sale, the 2036 series will have a larger total amount outstanding, though the final principal size was not disclosed in the release.
The 2031 notes will be a separate series with a maturity in 2031 and a coupon that was not filled in the document. Both tranches are scheduled to trade on April 14, 2026 and settle on April 17, 2026.
Brookfield said the 2036 notes will pay interest semiannually on January 15 and July 15, starting July 15, 2026. Interest on the 2036 notes accrues from November 18, 2025. The 2031 notes will also pay interest twice a year, with the exact dates and coupon left blank in the term sheet.
The 2036 notes are priced at par plus accrued interest from November 18, 2025, while the 2031 notes are priced as a percentage of principal amount, with the exact figure not disclosed. The 2036 issue will be added to the existing series rather than launched as a new line.
The notes come with a change-of-control put at 101%, a negative pledge, and merger and asset-sale protections. Brookfield can redeem the 2036 notes at make-whole prices before October 15, 2035, then at par from that date forward. The 2031 notes will have similar redemption terms, with the exact dates and make-whole spread not disclosed.
Net proceeds will go toward general corporate purposes. The deal is being led by RBC Capital Markets and SMBC Nikko Securities America. As a result of these announcements, the company's shares have moved -0.05% on the market, and are now trading at a price of $43.67. Check out the company's full 8-K submission here.
