Brascan Announces US$450 Million Debenture Issue.Business Editors TORONTO--(BUSINESS WIRE)--Feb. 27, 2003 Brascan Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension : BNN BNN Boston Neighborhood Network BNN Boundary Network Node (IBM) BNN Back-Propagation Neural Network BNN Biological Neural Network BNN Bart's Neverending Network (public-service TV network in The Netherlands) .A, NYSE NYSE See: New York Stock Exchange : BNN) today announced that it will issue US$450 million of debentures consisting of US$200 million 5 3/4% debentures maturing March 1, 2010 and US$250 million 7 3/8% debentures maturing March 1, 2033. The debentures will be issued under the Company's base shelf prospectus dated November 29, 2001 filed with each of the provinces of Canada and the U.S. Securities and Exchange Commission, as amended by base shelf prospectus amendments dated June 7, 2002 and February 17, 2003, and additional registration statements filed on June 11, 2002 and February 19, 2003 with the U.S. Securities and Exchange Commission. The two amendments increased the maximum aggregate principal amount of debt securities that may be offered and issued from time to time under the base shelf prospectus from US$500 million to US$1,400 million, of which US$1,100 million will have been issued, including this offering. The debentures are being offered only in the United States. A prospectus supplement reflecting the terms of the offering will be filed shortly. The net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of this issue will be used for general corporate purposes, including the repayment of corporate debt. Brascan Profile Brascan is a North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. based company which owns and manages assets which generate sustainable cash flows. Current operations are largely in the real estate, power generation and financial sectors. Assets total $23 billion and include 55 premier commercial properties and 38 power generating facilities. Brascan's publicly traded securities are listed on the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Toronto stock exchanges. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion