BAM · Brookfield Asset Management Ltd.

Brookfield Asset Management Ltd. has significantly increased its debt capital through a $1 billion senior notes offering, structured as two distinct tranches to manage maturity profiles and interest costs. The $550 million 4.832% notes due 2031 represent new debt under a separate series, while the $450 million 5.298% notes due 2036 expand an existing series to $850 million total, benefiting from fungibility with previously issued notes. This financing establishes binding obligations under the supplemented Indenture, which imposes operational restrictions including a lien limitation covenant and triggers a mandatory repurchase offer at a premium in change of control scenarios. The notes' redemption features provide BAM with flexibility through make-whole provisions before specific dates and par call options as maturity approaches, while tax-related clauses address potential withholding obligations and corresponding redemption rights. This transaction represents a substantial capital raise that creates direct financial obligations with defined terms and investor protections.