Brookfield (BAM) raises $750M via 6.077% long‑term notes due 2055

Rhea-AI Filing Summary

Brookfield Asset Management Ltd. issued $750,000,000 of long‑dated notes carrying a fixed 6.077% coupon due 2055. The notes were issued under the company's existing base indenture as supplemented by a second supplemental indenture, and are governed by an indenture naming Computershare Trust Company of Canada as Canadian Trustee and Computershare Trust Company, National Association as U.S. Trustee. The filing records this issuance as the creation of a direct financial obligation and references the related indenture documents and exhibits.

Positive

• Raised $750,000,000 in long‑term financing which can support long‑dated capital needs
• Fixed 6.077% coupon locks in interest cost at issuance, providing certainty on future cash interest obligations
• Use of established indenture and trustees indicates standard legal framework for bond administration

Negative

• Increases long‑term debt obligations with a 2055 maturity, raising long-duration repayment risk
• Filing lacks disclosure of use of proceeds, covenants, security, or expected impact on leverage and liquidity

Insights

Fixed Income/Capital Markets Analyst

TL;DR: BAM added $750M of long‑term fixed‑rate debt at a 6.077% coupon, increasing leverage and locking in long‑duration interest costs.

The issuance of $750 million of 6.077% notes due 2055 represents a material financing action that increases Brookfield Asset Management Ltd.'s long‑term debt. Structuring the notes under the existing base indenture with a second supplemental indenture and appointing Canadian and U.S. trustees are routine legal steps. The fixed 6.077% coupon and 2055 maturity create a long duration liability; absent additional context on use of proceeds or balance sheet effects in this filing, the financing is a clear debt raise but its net effect on leverage ratios and liquidity cannot be determined from the document alone.

Corporate Finance Risk Analyst

TL;DR: Material obligation created — bond issue increases long‑term repayment risk though document provides no use‑of‑proceeds or covenant details.

The 2055 maturity and fixed coupon imply extended interest expense commitments and exposure to interest rate and refinancing risk over decades. The filing documents trustees and the supplemental indenture, which are customary, but does not disclose covenants, security, or how the proceeds will be deployed. Without those details, assessing covenant constraints or potential ratings implications is not possible from this filing alone.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 9, 2025

Brookfield Asset Management Ltd.

(Exact name of registrant as specified in its charter)

British Columbia, Canada		001-41563		98-1702516
(State or Other Jurisdiction of Incorporation)		(Commission File No.)		(IRS Employee Identification No.)

Brookfield Place

250 Vesey Street, 15th Floor

New York, NY 10281-0221

(Address of Principal Executive Offices)

(212) 417-7000

(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class		Trading Symbol(s)		Name of Each Exchange on Which Registered
Class A Limited Voting Shares		BAM		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 1.01. Entry into a Material Definitive Agreement.

On September 9, 2025, Brookfield Asset Management Ltd. (“BAM”) completed its offering of US$750,000,000 aggregate principal amount of 6.077% notes due 2055 (the “Notes”).

The Notes were issued pursuant to an Indenture, dated as of April 24, 2025 (the “Base Indenture”), by and among BAM, Computershare Trust Company of Canada, as Canadian Trustee (the “Canadian Trustee”), and Computershare Trust Company, National Association, as U.S. trustee (the “U.S. Trustee”), as supplemented by the Second Supplemental Indenture, dated as of September 9, 2025 (the “Second Supplemental Indenture” and together with the Base Indenture, the “Indenture”), by and among BAM, the Canadian Trustee and the U.S. Trustee.

The Notes bear interest at 6.077% per annum and will mature on September 15, 2055. Interest on the Notes is payable on March 15 and September 15 of each year beginning March 15, 2026. BAM will be required to pay additional amounts in the event that BAM is required to withhold or deduct certain taxes by law or by the interpretation or administration thereof.

At any time and from time to time prior to March 15, 2055 (the date that is six months prior to the maturity date), BAM may redeem the Notes, in whole or in part, at a “make-whole” redemption price as described in the Indenture. At any time and from time to time on or after March 15, 2025, BAM may redeem some or all of the Notes at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest thereon to the redemption date as described in the Indenture. BAM may also redeem the Notes in the event of certain changes affecting Canadian withholding tax.

The Indenture contains certain restrictions, including a limitation that restricts BAM’s ability to incur liens. The Indenture also provides that BAM will be required to make an offer to purchase the Notes at a price equal to 101% of their principal amount, plus accrued and unpaid interest to the date of repurchase upon the occurrence of certain change of control events.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off Balance Sheet Arrangement of a Registrant.

The information set forth under Item 1.01 above is incorporated by reference into this Item 2.03.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number		Description
4.1		Indenture, dated as of April 24, 2025, among Brookfield Asset Management Ltd., Computershare Trust Company of Canada and Computershare Trust Company, National Association (incorporated by reference to Exhibit 4.1 of Brookfield Asset Management Ltd.’s Current Report on Form 8-K filed April 24, 2025)
4.2		Second Supplemental Indenture, dated as of September 9, 2025, among Brookfield Asset Management Ltd., Computershare Trust Company of Canada and Computershare Trust Company, National Association.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: September 9, 2025

	Brookfield Asset Management Ltd.
	By:	/s/ Kathy Sarpash
	Name:	Kathy Sarpash
	Title:	Managing Director, Legal & Regulatory and Corporate Secretary

FAQ

What did Brookfield Asset Management Ltd. (BAM) announce in the 8‑K?

The company issued $750,000,000 aggregate principal amount of notes bearing a 6.077% coupon due in 2055 under its indenture.

Who are the trustees for the new BAM notes?

The indenture names Computershare Trust Company of Canada as Canadian Trustee and Computershare Trust Company, National Association as U.S. Trustee.

Does the filing state how BAM will use the proceeds from the notes?

No. The filing does not disclose any use of proceeds.

Are there covenant or security terms disclosed for the 2055 notes?

No. The filing references the base indenture and a second supplemental indenture but does not provide specific covenant or security terms within the document.

Does this 8‑K indicate a change to BAM’s credit profile or ratings?

The filing does not include any information about credit ratings or rating agency actions.