{"success":true,"data":{"pressRelease":{"id":"163349","rtpr_id":"nGNXcQtxz-20261007","ticker":"BAM","exchange":"NYSE","all_tickers":["BAM","BN"],"title":"Partners Value Split Corp. Announces $125,000,000 Public Offering of Class AA Preferred Shares, Series 18","author":"Globe Newswire","published_at":"2026-10-07T14:49:02.101Z","article_body":"NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE\nSERVICES\n\nTORONTO, Oct. 07, 2026 (GLOBE NEWSWIRE) -- Partners Value Split Corp. (the\n“Company”) announced today that it has entered into an agreement to sell\n5,000,000 Class AA Preferred Shares, Series 18 (the “Series 18 Preferred\nShares”) to a syndicate of underwriters led by Scotiabank, BMO Capital\nMarkets, CIBC Capital Markets, RBC Capital Markets and TD Securities Inc. on a\nbought deal basis.\n\nThe Series 18 Preferred Shares will be issued at a price of $25.00 per share,\nfor gross proceeds of $125,000,000. The Series 18 Preferred Shares will carry\na fixed coupon of 5.30% and will have a final maturity of September 29, 2033.\nThe Series 18 Preferred Shares have a provisional rating of Pfd-2 from DBRS\nLimited. The net proceeds of the offering will be used by the Company to make\ndistributions to the holder of the Company’s capital shares.\n\nThe Company has granted the underwriters an option, exercisable in whole or\npart prior to closing, to purchase up to an additional 1,000,000 Series 18\nPreferred Shares at the same offering price, which, if exercised in full,\nwould increase the gross offering size to $150,000,000. Closing of the\noffering is expected to occur on or about October 15, 2026.\n\nThe Company owns a portfolio consisting of approximately 179 million Class A\nLimited Voting Shares of Brookfield Corporation and approximately 25 million\nClass A Limited Voting Shares of Brookfield Asset Management Ltd.\n(collectively, the “Brookfield Securities”), which are expected to yield\nquarterly dividends that are sufficient to fund quarterly fixed cumulative\npreferential dividends for the holders of the Company’s preferred shares and\nto enable the holders of the Company’s capital shares to participate in any\ncapital appreciation of the Brookfield Securities.\n\nBrookfield Corporation is a leading global investment firm focused on building\nlong-term wealth for institutions and individuals around the world. Brookfield\nCorporation has three core businesses: Asset Management, Wealth Solutions, and\nBrookfield Corporation’s Operating Businesses which are in infrastructure,\nenergy, private equity and real estate. Brookfield Corporation is listed on\nthe New York Stock Exchange and Toronto Stock Exchange under the symbol BN.\n\nBrookfield Asset Management Ltd. (“BAM”) is a leading global alternative\nasset manager, headquartered in New York, with over US$1 trillion of assets\nunder management across infrastructure, energy, private equity, real estate,\nand credit. BAM invests client capital for the long-term with a focus on real\nassets and essential service businesses that form the backbone of the global\neconomy. BAM offers a range of alternative investment products to investors\naround the world — including public and private pension plans, endowments\nand foundations, sovereign wealth funds, financial institutions, insurance\ncompanies and private wealth investors. BAM draws on Brookfield’s heritage\nas an owner and operator to invest for value and generate strong returns for\nits clients, across economic cycles. BAM is listed on the New York Stock\nExchange and Toronto Stock Exchange under the symbol BAM.\n\nOnaiza Ahmed, Chief Financial Officer, will be available at (416) 363-9491 to\nanswer any questions regarding the offering.\n\nThis news release contains “forward-looking information” within the\nmeaning of Canadian provincial securities laws and regulations. The words\n“expected”, “will”, “agreed” and “enable” and other\nexpressions which are predictions of or indicate future events, trends or\nprospects and which do not relate to historical matters or identify\nforward-looking information. Forward-looking information in this news release\nincludes statements with regard to the provisional rating on the Series 18\nPreferred Shares, which is not a final rating, the use of proceeds of the\noffering and quarterly dividends from the Company’s portfolio of Brookfield\nSecurities which are expected to fund quarterly fixed cumulative preferential\ndividends for holders of the Company’s preferred shares and to enable\nholders of its capital shares to participate in any capital appreciation of\nthe Brookfield Securities. Although the Company believes that the anticipated\nfuture results or achievements expressed or implied by the forward-looking\ninformation and statements are based upon reasonable assumptions and\nexpectations, the reader should not place undue reliance on the\nforward-looking information and statements because they involve known and\nunknown risks, uncertainties and other factors which may cause the actual\nresults, performance or achievements of the Company to differ materially from\nanticipated future results, performance or achievement expressed or implied by\nsuch forward-looking information and statements. Factors that could cause\nactual results to differ materially from those contemplated or implied by the\nforward-looking information and statements include: the behaviour of financial\nmarkets, including fluctuations in interest and exchange rates, availability\nof equity and debt financing and other risks and factors detailed from time to\ntime in the Company’s other documents filed with the Canadian securities\nregulators. We caution that the foregoing list of important factors that may\naffect future results is not exhaustive. When relying on our forward-looking\ninformation to make decisions with respect to the Company, investors and\nothers should carefully consider the foregoing factors and other uncertainties\nand potential events. Except as may be required by law, the Company undertakes\nno obligation to publicly update or revise any forward-looking information or\nstatements, whether written or oral, that may be as a result of new\ninformation, future events or otherwise. Reference should be made to the\nCompany’s short form base shelf prospectus dated February 20, 2026 for a\ndescription of the major risk factors.\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/f0a0944f-6763-402e-bab0-54329b93e4d8)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNXcQtxz-20261007","title":"Partners Value Split Corp. Announces $125,000,000 Public Offering of Class AA Preferred Shares, Series 18","author":"Globe Newswire","ticker":"BAM","created":"2026-10-07T14:49:02.101Z","tickers":["BAM","BN"],"exchange":"NYSE","article_body":"NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE\nSERVICES\n\nTORONTO, Oct. 07, 2026 (GLOBE NEWSWIRE) -- Partners Value Split Corp. (the\n“Company”) announced today that it has entered into an agreement to sell\n5,000,000 Class AA Preferred Shares, Series 18 (the “Series 18 Preferred\nShares”) to a syndicate of underwriters led by Scotiabank, BMO Capital\nMarkets, CIBC Capital Markets, RBC Capital Markets and TD Securities Inc. on a\nbought deal basis.\n\nThe Series 18 Preferred Shares will be issued at a price of $25.00 per share,\nfor gross proceeds of $125,000,000. The Series 18 Preferred Shares will carry\na fixed coupon of 5.30% and will have a final maturity of September 29, 2033.\nThe Series 18 Preferred Shares have a provisional rating of Pfd-2 from DBRS\nLimited. The net proceeds of the offering will be used by the Company to make\ndistributions to the holder of the Company’s capital shares.\n\nThe Company has granted the underwriters an option, exercisable in whole or\npart prior to closing, to purchase up to an additional 1,000,000 Series 18\nPreferred Shares at the same offering price, which, if exercised in full,\nwould increase the gross offering size to $150,000,000. Closing of the\noffering is expected to occur on or about October 15, 2026.\n\nThe Company owns a portfolio consisting of approximately 179 million Class A\nLimited Voting Shares of Brookfield Corporation and approximately 25 million\nClass A Limited Voting Shares of Brookfield Asset Management Ltd.\n(collectively, the “Brookfield Securities”), which are expected to yield\nquarterly dividends that are sufficient to fund quarterly fixed cumulative\npreferential dividends for the holders of the Company’s preferred shares and\nto enable the holders of the Company’s capital shares to participate in any\ncapital appreciation of the Brookfield Securities.\n\nBrookfield Corporation is a leading global investment firm focused on building\nlong-term wealth for institutions and individuals around the world. Brookfield\nCorporation has three core businesses: Asset Management, Wealth Solutions, and\nBrookfield Corporation’s Operating Businesses which are in infrastructure,\nenergy, private equity and real estate. Brookfield Corporation is listed on\nthe New York Stock Exchange and Toronto Stock Exchange under the symbol BN.\n\nBrookfield Asset Management Ltd. (“BAM”) is a leading global alternative\nasset manager, headquartered in New York, with over US$1 trillion of assets\nunder management across infrastructure, energy, private equity, real estate,\nand credit. BAM invests client capital for the long-term with a focus on real\nassets and essential service businesses that form the backbone of the global\neconomy. BAM offers a range of alternative investment products to investors\naround the world — including public and private pension plans, endowments\nand foundations, sovereign wealth funds, financial institutions, insurance\ncompanies and private wealth investors. BAM draws on Brookfield’s heritage\nas an owner and operator to invest for value and generate strong returns for\nits clients, across economic cycles. BAM is listed on the New York Stock\nExchange and Toronto Stock Exchange under the symbol BAM.\n\nOnaiza Ahmed, Chief Financial Officer, will be available at (416) 363-9491 to\nanswer any questions regarding the offering.\n\nThis news release contains “forward-looking information” within the\nmeaning of Canadian provincial securities laws and regulations. The words\n“expected”, “will”, “agreed” and “enable” and other\nexpressions which are predictions of or indicate future events, trends or\nprospects and which do not relate to historical matters or identify\nforward-looking information. Forward-looking information in this news release\nincludes statements with regard to the provisional rating on the Series 18\nPreferred Shares, which is not a final rating, the use of proceeds of the\noffering and quarterly dividends from the Company’s portfolio of Brookfield\nSecurities which are expected to fund quarterly fixed cumulative preferential\ndividends for holders of the Company’s preferred shares and to enable\nholders of its capital shares to participate in any capital appreciation of\nthe Brookfield Securities. Although the Company believes that the anticipated\nfuture results or achievements expressed or implied by the forward-looking\ninformation and statements are based upon reasonable assumptions and\nexpectations, the reader should not place undue reliance on the\nforward-looking information and statements because they involve known and\nunknown risks, uncertainties and other factors which may cause the actual\nresults, performance or achievements of the Company to differ materially from\nanticipated future results, performance or achievement expressed or implied by\nsuch forward-looking information and statements. Factors that could cause\nactual results to differ materially from those contemplated or implied by the\nforward-looking information and statements include: the behaviour of financial\nmarkets, including fluctuations in interest and exchange rates, availability\nof equity and debt financing and other risks and factors detailed from time to\ntime in the Company’s other documents filed with the Canadian securities\nregulators. We caution that the foregoing list of important factors that may\naffect future results is not exhaustive. When relying on our forward-looking\ninformation to make decisions with respect to the Company, investors and\nothers should carefully consider the foregoing factors and other uncertainties\nand potential events. Except as may be required by law, the Company undertakes\nno obligation to publicly update or revise any forward-looking information or\nstatements, whether written or oral, that may be as a result of new\ninformation, future events or otherwise. Reference should be made to the\nCompany’s short form base shelf prospectus dated February 20, 2026 for a\ndescription of the major risk factors.\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/f0a0944f-6763-402e-bab0-54329b93e4d8)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-10-07T14:49:02.150608114Z","server_sent_at_ms":1791384542150},"received_at":"2026-10-07T14:49:02.202Z","source_url":null},"analysis":{"id":"151806","press_release_id":"163349","analysis_json":{"industry":{"label":"Capital Markets","sector":"Financials"},"redFlags":["offering proceeds fund distributions to capital shareholders rather than productive investment","preferred share rating is provisional only"],"eventType":"offering","narrative":"Partners Value Split Corp., a split-share vehicle holding roughly 179 million Brookfield Corporation (BN) and 25 million Brookfield Asset Management (BAM) shares, launched a bought-deal offering of 5 million Series 18 Class AA preferred shares at $25.00 for gross proceeds of $125 million.\n\nThe preferred shares carry a fixed 5.30% coupon maturing September 29, 2033, rated provisionally Pfd-2 by DBRS, with underwriters holding an option for 1 million additional shares that would lift the deal to $150 million.\n\nNet proceeds will fund distributions to holders of the company's capital shares; the offering affects the split corp, not BAM's own capital structure, and closing is expected around October 15, 2026.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Split-share vehicle preferred issuance at 5.30% — modest read-through for Brookfield name; monitor for distribution sustainability."},"keyFigures":{"dealValueUsd":"$125,000,000","offeringPrice":"$25.00","sharesOffered":5000000,"customDimensions":{"coupon":"5.30%","rating":"Pfd-2 (provisional, DBRS)","maturity":"September 29, 2033","overallotment_shares":1000000,"overallotment_max_gross":"$150,000,000"}},"quotedText":"","namedEntities":{"people":[{"name":"Onaiza Ahmed","role":"CFO"}],"products":["Class AA Preferred Shares, Series 18"],"companies":[{"name":"Partners Value Split Corp.","relationship":"issuer of preferred shares"},{"name":"Brookfield Corporation","ticker":"BN","relationship":"portfolio holding of the issuer"},{"name":"Brookfield Asset Management Ltd.","ticker":"BAM","relationship":"portfolio holding of the issuer"},{"name":"Scotiabank","relationship":"lead underwriter"},{"name":"BMO Capital Markets","relationship":"lead underwriter"},{"name":"CIBC Capital Markets","relationship":"lead underwriter"},{"name":"RBC Capital Markets","relationship":"lead underwriter"},{"name":"TD Securities Inc.","relationship":"lead underwriter"},{"name":"DBRS Limited","relationship":"rating agency"}],"dollarAmounts":[{"amount":"$125,000,000","context":"gross proceeds of Series 18 preferred share offering"},{"amount":"$25.00","context":"price per Series 18 preferred share"},{"amount":"$150,000,000","context":"maximum gross size if overallotment fully exercised"}]},"materialImpact":{"score":2,"reasoning":"A C$125 million (up to $150M with overallotment) bought-deal preferred share offering by Partners Value Split Corp., a split-share vehicle holding Brookfield securities, not by Brookfield Asset Management itself. Proceeds fund distributions to capital shareholders; no change to BAM's own capital structure."},"tickerRelevance":{"others":[{"ticker":"BN","relevance":"mentioned - Brookfield Corporation shares held by the offering issuer"}],"primary":"BAM"},"globalImportance":12,"audienceRelevance":10,"eventTypeSecondary":[],"importanceComponents":{"dealSize":"$125M gross, small relative to Brookfield complex","tickerTier":"large-cap adjacent (BAM) but issuer is a related vehicle","eventGravity":"routine preferred share offering by split-share vehicle","marketCapAdjustment":"no direct impact on BAM capital structure"}},"event_type":"offering","event_type_secondary":null,"sentiment":"neutral","material_impact_score":2,"narrative":"Partners Value Split Corp., a split-share vehicle holding roughly 179 million Brookfield Corporation (BN) and 25 million Brookfield Asset Management (BAM) shares, launched a bought-deal offering of 5 million Series 18 Class AA preferred shares at $25.00 for gross proceeds of $125 million.\n\nThe preferred shares carry a fixed 5.30% coupon maturing September 29, 2033, rated provisionally Pfd-2 by DBRS, with underwriters holding an option for 1 million additional shares that would lift the deal to $150 million.\n\nNet proceeds will fund distributions to holders of the company's capital shares; the offering affects the split corp, not BAM's own capital structure, and closing is expected around October 15, 2026.","key_figures":{"dealValueUsd":"$125,000,000","offeringPrice":"$25.00","sharesOffered":5000000,"customDimensions":{"coupon":"5.30%","rating":"Pfd-2 (provisional, DBRS)","maturity":"September 29, 2033","overallotment_shares":1000000,"overallotment_max_gross":"$150,000,000"}},"named_entities":{"people":[{"name":"Onaiza Ahmed","role":"CFO"}],"products":["Class AA Preferred Shares, Series 18"],"companies":[{"name":"Partners Value Split Corp.","relationship":"issuer of preferred shares"},{"name":"Brookfield Corporation","ticker":"BN","relationship":"portfolio holding of the issuer"},{"name":"Brookfield Asset Management Ltd.","ticker":"BAM","relationship":"portfolio holding of the issuer"},{"name":"Scotiabank","relationship":"lead underwriter"},{"name":"BMO Capital Markets","relationship":"lead underwriter"},{"name":"CIBC Capital Markets","relationship":"lead underwriter"},{"name":"RBC Capital Markets","relationship":"lead underwriter"},{"name":"TD Securities Inc.","relationship":"lead underwriter"},{"name":"DBRS Limited","relationship":"rating agency"}],"dollarAmounts":[{"amount":"$125,000,000","context":"gross proceeds of Series 18 preferred share offering"},{"amount":"$25.00","context":"price per Series 18 preferred share"},{"amount":"$150,000,000","context":"maximum gross size if overallotment fully exercised"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-07T14:49:11.323Z","global_importance":12,"audience_relevance":10,"importance_components":{"dealSize":"$125M gross, small relative to Brookfield complex","tickerTier":"large-cap adjacent (BAM) but issuer is a related vehicle","eventGravity":"routine preferred share offering by split-share vehicle","marketCapAdjustment":"no direct impact on BAM capital structure"}},"durationMs":9103,"modelName":"glm-5.3-flashx"}}