STOCK TITAN

Brookfield prices $600M 5.65% notes due 2031

(Neutral)
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Brookfield Corporation (BN), as guarantor, reports that its subsidiary Brookfield Finance Inc. has priced an offering of US$600 million SEC-registered 5.650% senior unsecured notes due September 23, 2031, fully and unconditionally guaranteed by Brookfield Corporation and issued under its Canadian base shelf prospectus.

The notes are offered at 99.966% of principal to yield 5.658%, with interest paid semi-annually on March 23 and September 23, starting March 23, 2027. The notes include a change-of-control put at 101%, a negative pledge and standard merger and asset sale covenants, plus make-whole and par call redemption features. Net proceeds are expected to be used for general corporate purposes, and the term sheet is incorporated by reference into Brookfield’s and Brookfield Finance Inc.’s Form F-10 registration statements.

Positive

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Negative

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Filing Explained

The Form 6-K reports a priced US$600 million senior-unsecured note offering by Brookfield Finance, guaranteed by Brookfield Corporation, with settlement expected on September 23, 2026; if settled as scheduled, it adds the disclosed borrowing and guarantee, while the filing does not establish that issuance has already occurred.

Notes Principal Amount US$600,000,000 5.650% Senior Unsecured Notes due September 23, 2031
Coupon Rate 5.650% Annual interest rate on the notes
Yield 5.658% Yield based on price to public of 99.966%
Price to Public 99.966% Issue price as a percentage of principal
Maturity Date September 23, 2031 Final maturity of the notes
Interest Payment Dates March 23 and September 23 Semi-annual payments commencing March 23, 2027
Change of Control Put 101% Investor put price upon a qualifying change of control
Settlement Cycle T+2 Expected settlement on September 23, 2026 for trades dated September 21, 2026
base shelf prospectus regulatory
"A final base shelf prospectus containing important information relating to the securities"
A base shelf prospectus is a pre-approved regulatory document that lets a company register a range of securities once and then sell them to the public over time without repeating the full approval process for each offering. For investors it’s like a menu and standing permission slip: it lays out the types of securities, key risks and terms ahead of any specific sale, so buyers can assess potential dilution, timing and the company’s plans before new shares or debt hit the market.
negative pledge financial
"Covenants: Change of control (put @ 101%) Negative pledge"
Make-Whole Call financial
"Make-Whole Call: Prior to August 23, 2031 ... treasury rate plus 15 basis points"
A make-whole call is a provision in a bond that lets the issuer pay off the debt early by giving bondholders a lump sum designed to compensate them for lost future interest; think of it like paying off a mortgage today plus a small premium to cover the interest you would have earned. It matters to investors because it reduces uncertainty about how long a bond will last and affects the bond’s price and yield—investors may get repaid sooner but receive a payment that aims to make them financially whole.
Par Call financial
"Par Call: At any time on or after August 23, 2031 ... at 100% of the principal"
PRIIPs regulatory
"No PRIIPs or UK PRIIPs key information document (KID) has been prepared"
A PRIIPs is a regulated type of investment product aimed at retail buyers, and the term also refers to the rules that require those products to come with a short, standardized summary of key facts — like a nutrition label for investments. That summary explains potential returns, typical risks, and fees in plain figures so ordinary investors can compare offerings more easily and make better-informed choices before buying.
T+2 market
"Expected Settlement Date: September 23, 2026 (T+2)"
t+2 is the standard settlement rule that means a securities trade is finalized two business days after the trade date; the buyer must deliver funds and the seller must deliver the shares within that window. Think of it like ordering an item that is paid for at checkout but is officially delivered two days later—investors need to track this timing for cash availability, margin requirements, corporate actions, and to avoid settlement failures or unexpected exposure.
Offering Type shelf
Use of Proceeds Net proceeds will be used for general corporate purposes.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What type of securities is Brookfield Corporation (BN) offering in this 6-K?

Brookfield Finance Inc., guaranteed by Brookfield Corporation, is offering US$600 million 5.650% senior unsecured notes due September 23, 2031, issued under an SEC-registered and Canadian base shelf prospectus structure.

What is the coupon and yield on Brookfield Corporation (BN) 2031 notes?

The notes carry a fixed 5.650% coupon, paid semi-annually, and are priced to yield 5.658% based on a price to the public of 99.966% of principal.

When do Brookfield Corporation (BN) new notes mature and when is interest paid?

The notes mature on September 23, 2031. Interest is paid semi-annually on March 23 and September 23, commencing March 23, 2027.

How will Brookfield Corporation (BN) use the proceeds from the 2031 notes?

The filing states that the net proceeds from the sale of the notes will be used for general corporate purposes, without further breakdown of specific projects or debt repayments.

What investor protections are included in Brookfield Corporation (BN) 2031 notes?

The notes include a change of control put at 101%, a negative pledge, provisions on consolidation, merger, amalgamation and sale of substantially all assets, and issuer call options via a make-whole call before August 23, 2031 and a par call thereafter.

Who are the main underwriters for Brookfield Corporation (BN) 2031 note offering?

Joint book-running managers are Deutsche Bank Securities Inc., BofA Securities, Inc., Mizuho Securities USA LLC and MUFG Securities Americas Inc., with several additional firms acting as co-managers.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Learn about SEC filing dates

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 6-K

 

 

 

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO

RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of September 2026

 

Commission File Number: 001-15160

 

 

 

BROOKFIELD CORPORATION

(Name of Registrant)

 

 

 

Brookfield Place
Suite 100
181 Bay Street, P.O. Box 762
Toronto, Ontario, Canada M5J 2T3
(Address of Principal Executive Office)

 

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F ¨         Form 40-F x

 

Exhibit 99.1 of this Form 6-K shall be incorporated by reference as an exhibit to the Registration Statement of Brookfield Corporation and Brookfield Finance Inc. on Form F-10 (File Nos. 333-292304 and 333-292304-04).

 

 

 

 

 

EXHIBIT INDEX

 

Exhibit   Description
99.1   Final Canadian Term Sheet, dated September 21, 2026

 

 

 

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, thereunto duly authorized.

 

  BROOKFIELD CORPORATION
   
Date: September 22, 2026 By: /s/ Swati Mandava
    Name: Swati Mandava
    Title: Managing Director, Legal & Regulatory and Corporate Secretary

 

 

 

Exhibit 99.1

 

A final base shelf prospectus containing important information relating to the securities described in this document has been filed with the securities regulatory authorities in each of the provinces of Canada. The final base shelf prospectus, any applicable shelf prospectus supplement and any amendment to the documents are accessible through SEDAR+. Copies of the documents may be obtained from Deutsche Bank Securities Inc. at 1-800-503-4611 or by emailing prospectus.CPDG@db.com, or by calling BofA Securities, Inc. at 1-800-294-1322 or by emailing dg.prospectus_requests@bofa.com.

 

This document does not provide full disclosure of all material facts relating to the securities offered. Investors should read the final base shelf prospectus, any applicable shelf prospectus supplement and any amendment to the documents for disclosure of those facts, especially risk factors relating to the securities offered, before making an investment decision.

 

BROOKFIELD FINANCE INC.

US$600,000,000 5.650% NOTES DUE 2031

 

FINAL TERM SHEET

September 21, 2026

 

Issuer: Brookfield Finance Inc.
Guarantor: Brookfield Corporation
Guarantee: The Notes (as defined below) will be fully and unconditionally guaranteed as to payment of principal, premium (if any) and interest and certain other amounts by Brookfield Corporation.
Security: 5.650% Senior Unsecured Notes due September 23, 2031 (the “Notes”)
Format: SEC registered
Size: US$600,000,000
Trade Date: September 21, 2026
Expected Settlement Date: September 23, 2026 (T+2)
Maturity Date: September 23, 2031
Coupon: 5.650%
Interest Payment Dates: March 23 and September 23, commencing March 23, 2027
Price to Public: 99.966%
Benchmark Treasury: [The Spread to Benchmark Treasury, and any disclosure relating to the Spread to Benchmark Treasury, has been removed in accordance with subsection 9A.3(4) of National Instrument 44-102 – Shelf Distributions (“NI 44-102”).]
Benchmark Treasury Price & Yield: [The Spread to Benchmark Treasury, and any disclosure relating to the Spread to Benchmark Treasury, has been removed in accordance with subsection 9A.3(4) of NI 44-102.]

 

 

 

Spread to Benchmark Treasury: [The Spread to Benchmark Treasury, and any disclosure relating to the Spread to Benchmark Treasury, has been removed in accordance with subsection 9A.3(4) of NI 44-102.]
Yield: 5.658%
Denominations: Initial denominations of US$2,000 and subsequent multiples of US$1,000
Covenants:

Change of control (put @ 101%)

Negative pledge

Consolidation, merger, amalgamation and sale of substantially all assets

Optional Redemption Provisions:  
Make-Whole Call: Prior to August 23, 2031 (one month prior to maturity), treasury rate plus 15 basis points
Par Call: At any time on or after August 23, 2031 (one month prior to maturity), at 100% of the principal amount of the Notes to be redeemed
Use of Proceeds: The net proceeds from the sale of the Notes will be used for general corporate purposes
CUSIP / ISIN: 11271LAR3 / US11271LAR33
Joint Book-Running Managers1:

Deutsche Bank Securities Inc.
BofA Securities, Inc.

Mizuho Securities USA LLC

MUFG Securities Americas Inc.

Co-Managers:

Brookfield Securities LLC

Banco Bradesco BBI S.A.

BNP Paribas Securities Corp.

Credit Agricole Securities (USA) Inc.

Desjardins Securities Inc.

Itau BBA USA Securities, Inc.

National Bank of Canada Financial Inc.

Natixis Securities Americas LLC

Santander US Capital Markets LLC

SG Americas Securities, LLC

SMBC Nikko Securities America, Inc.

 

 

1 This offering will be made in Canada by Merrill Lynch Canada Inc., a broker-dealer affiliate of BofA Securities, Inc., and by MUFG Securities (Canada), Ltd., a broker-dealer affiliate of MUFG Securities Americas Inc.

 

2

 

 

Under Rule 15c6-1 under the U.S. Securities Exchange Act of 1934, trades in the secondary market generally are required to settle in one business day unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the Notes prior to the delivery of the Notes hereunder may be required, by virtue of the fact that the Notes initially will settle in T+2, to specify an alternative settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of the Notes who wish to trade the Notes prior to their date of delivery hereunder should consult their own advisors.

 

The Notes will be issued as a separate series of debt securities under a fourteenth supplemental indenture to be dated as of the date of the issuance of the Notes (the “Fourteenth Supplemental Indenture”) to the base indenture dated as of June 2, 2016 (the “Base Indenture”) (together with the Fourteenth Supplemental Indenture, the “Indenture”), between Brookfield Finance Inc., Brookfield Corporation, as guarantor, and Computershare Trust Company of Canada, as trustee. The foregoing is a summary of certain of the material attributes and characteristics of the Notes, which does not purport to be complete and is qualified in its entirety by reference to the Indenture.

 

No PRIIPs or UK PRIIPs key information document (KID) has been prepared as European Economic Area or UK retail investors are not targeted.

 

3

 

Filing Exhibits & Attachments

1 document

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