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Brookfield Property's finance unit wraps up C$300M notes issue

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Brookfield Property's finance unit wraps up C$300M notes issue

A Brookfield Property Partners LP unit closed its issuance of series 1 medium-term notes due July 3, 2023, for C$300 million.

The notes will be guaranteed by the commercial real estate company and certain of its key holding units. They will bear an annual interest rate of 4.346%, payable semiannually.

Brookfield Property Finance ULC, which issued the notes, will use the net proceeds for general corporate purposes. Brookfield Property Partners is the flagship listed real estate company of alternative asset manager Brookfield Asset Management Inc.

The syndicate of agents was co-led by CIBC World Markets Inc., RBC Dominion Securities Inc., TD Securities Inc. and Scotia Capital Inc.