TORONTO, Nov. 05, 2025 (GLOBE NEWSWIRE) -- Partners Value Split Corp. (the "Company") announced today that it has entered into an agreement to sell 4,000,000 Class AA Preferred Shares, Series 17 (the "Series 17 Preferred Shares") to a syndicate of underwriters led by Scotiabank, BMO Capital Markets, CIBC Capital Markets, RBC Capital Markets and TD Securities Inc. on a bought deal basis.
The Series 17 Preferred Shares will be issued at a price of US$25.00 per share, for gross proceeds of US$100,000,000. The Series 17 Preferred Shares will carry a fixed coupon of 5.25% and will have a final maturity of January 31, 2033. The Series 17 Preferred Shares have a provisional rating of Pfd-2 from DBRS Limited. The net proceeds of the offering will be used by the Company to make distributions to the holder of the Company's capital shares.
The Company has granted the underwriters an option, exercisable in whole or part prior to closing, to purchase up to an additional 1,000,000 Series 17 Preferred Shares at the same offering price, which, if exercised in full, would increase the gross offering size to US$125,000,000. Closing of the offering is expected to occur on or about November 13, 2025.
The Company owns a portfolio consisting of approximately 179 million Class A Limited Voting Shares of Brookfield Corporation and approximately 25 million Class A Limited Voting Shares of Brookfield Asset Management Ltd. (collectively, the "Brookfield Securities"), which are expected to yield quarterly dividends that are sufficient to ...
