Brascan's $250M Preferred Share Offering

On September 17, 2001, Brascan Corporation completed an offering of ten million Class A Preference Shares, Series 10 for total proceeds of $250 million. Brascan owns and operates real estate, power generating, natural resource and financial businesses, located principally in North and South America. Brascan owns approximately 48 per cent of Brookfield Properties Corporation, 40 per cent of Noranda Inc., 38 per cent of Nexfor Inc., approximately 71 per cent of Trilon Financial Corporation and wholly-owns Great Lakes Power, Inc.

The lead underwriter was CIBC World Markets Inc. and the underwriting group included RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., BMO Nesbitt Burns, HSBC Securities (Canada) Inc., Merrill Lynch Canada Inc., National Bank Financial and Trilon Securities Corporation.

Torys acted for Brascan, with a team headed by Phil Brown and included Candy Saga, Phil Panet, Rena Shadowitz, Terra Rebick, Conrad Sheppard, Michael Choiselat and Jim Welkoff in Toronto, with advice about the NYSE from Alexandra Kau and Karen Szeto in Torys’ New York office. The underwriters were represented by Lawrence Chernin, Fraser McDonald, Linda Misetich and Todd Thomson of Goodman and Carr LLP.