05:09 PM EST, 12/10/2024 (MT Newswires) -- Brookfield (BN.TO, BN) after trade Tuesday priced a US$700 million public offering of subordinated notes due 2055.

The company said the notes will carry an annual interest rate of 6.3% until 2035, and thereafter resetting every five years based on the five-year U.S. treasury rate plus 2.076%.

The notes will be issued by Brookfield Finance and guaranteed by Brookfield, with net proceeds to be used for general corporate purposes, and is expected to close on Dec. 17.