Press Release 2005
Toronto, CANADA, June 9, 2005 – Brascan Corporation (NYSE/TSX: BNN) announced today that it will issue C$300 million principal amount of 5.95% unsecured notes maturing June 14, 2035. The notes were priced at 99.363 to yield 5.996% and will be issued under the Company's base shelf prospectus dated February 17, 2004 filed in each of the provinces of Canada . The notes are being offered only in Canada . The notes will be sold though a dealer group led by CIBC World Markets. A prospectus supplement reflecting the terms of the offering will be filed shortly.
The notes have been rated A– by Standard & Poor's Corporation, A (low) by Dominion Bond Rating Service, and Baa3 by Moody's Investors Service Inc. The net proceeds of this issue will be used for general corporate purposes, including the repayment of corporate debt.
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Brascan Corporation is a global asset manager focused on property, power and infrastructure assets. With $40 billion of assets under management, the company owns 70 premier office properties and 130 power generating plants. The company is inter-listed on the New York and Toronto stock exchanges.
Contacts:
Brascan Corporation
Katherine C. Vyse
SVP, Investor Relations and Communications
Tel: 416-369-8246
Email: kvyse@brascancorp.com
Note: This press release may contain “forward-looking statements” within the meaning of Section 27A of Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words “expect”, “anticipate”, “intend”, “estimate” and other expressions which are predictions of or indicate future trends and which do not relate to historical matters identify forward looking statements. Reliance should forward-looking statements because they involve known and unknown risks, uncertainties and other factors, cause the actual results, performance or achievements of the company to differ materially from anticipated performance or achievement expressed or implied by such forward-looking statements. Factors that could results to differ materially from those set forward in the forward looking statements include general economic interest rates, availability of equity and debt financing and other risks detailed from time to time in the company's filed with the Securities and Exchange Commission. The company undertakes no obligation to publicly update any forward looking statements, whether as a result of new information, future events or otherwise.
