Brascan Completes Issue Of $125 Million Unsecured Junior Subordinated Debentures.Business Editors TORONTO--(BUSINESS WIRE)--Dec. 20, 2001 Brascan Corporation (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : 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 the completion of its previously announced issue of 8.35% unsecured junior subordinated debentures for aggregate gross proceeds of $125.0 million. Brascan received 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 $121 million in connection with the issuance of these securities to the public. The net proceeds will be used by Brascan for general corporate purposes, including increasing the Company's interests in its principal business units and repaying corporate debt. The debentures will commence trading on The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. on December 20, 2001 under the symbol BNN.PR.S. Brascan Corporation owns and operates real estate, power generating, financial and natural resource businesses, located principally in North and South America. The Company's goal is to build long-term shareholder value by creating sustainable cash flows generated from high quality assets and by continuously developing new opportunities for future growth. Brascan is listed on The Toronto Stock Exchange under the symbol BNN.A and the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol BNN. For more information, please visit our web site at www.brascancorp.com or contact the following individuals: Media: Robert J. Harding Chairman 416-363-9491 Investors and Financial Analysts: Richard Legault Senior Vice-President and Chief Financial Officer 416-956-5183 Katherine C. Vyse Vice-President, Investor Relations 416-369-8246 None of the foregoing securities will be offered or sold within the United States or to U.S. persons |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion