Brookfield Property Partners (BPY) issues C$400 million MTNs.
Brookfield Property Partners L.P. (BPY) has issued C$400 million of 3.93% senior notes due January 15, 2027. The notes were priced at a spread of approximately 230 bp over the corresponding Government of Canada seven-year bond yield. BPY established its medium-term note program in 2018 and now has C$1.9 billion of outstanding bonds with maturities ranging from 2021 to 2027. All of the bonds have been issued through Brookfield Property Finance ULC and are guaranteed by parent Brookfield Property Partners L.P.
Brookfield Property Partners L.P. is a global real estate investment fund with US$109 billion of consolidated assets located in the U.S., Canada, U.K., Australia, India, Brazil, and South Korea. The company is externally managed by general partner Brookfield Asset Management Inc. (BAM), a leading alternative asset manager with approximately $500 billion of assets under management.