Partners Value Split greenshoe raises preferreds to C$150 million

New York, Sept. 18 – Partners Value Split Corp. said it completed the sale of C$150 million of series 8 class AA preferred shares with a 4.8% dividend and a final maturity of Sept. 30, 2024.

The company previously priced C$125 million of the preferreds with a C$25 million over-allotment option.

With exercise of the greenshoe, the issuer sold 6 million preferred shares (DBRS: Pfd-2) at C$25.00 per share.

Scotia Capital Inc., CIBC Capital Markets, RBC Capital Markets and TD Securities Inc. were the lead managers.

The company intends to use the proceeds to redeem its outstanding series 5 class AA preferred shares and to pay a special dividend to holders of the company’s capital shares.

Partners Value Split is a Toronto-based fund that owns a portfolio of 79,740,966 class A limited voting shares of Brookfield Asset Management Inc.

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