New Issue: Brookfield Property sells upsized C$350 million 4.3% five-year notes at 99.957

By Cristal Cody

Tupelo, Miss., Feb. 12 – Brookfield Property Finance ULC priced C$350 million of 4.3% five-year guaranteed medium-term notes (BBB-//DBRS: BBB) at 99.957 to yield 4.309%, according to a final term sheet.

The deal was upsized from C$300 million.

CIBC World Markets Inc., RBC Dominion Securities Inc., TD Securities Inc. and Scotia Capital Inc. were the bookrunners.

Proceeds will be used for general corporate purposes.

The company is a Toronto-based subsidiary of Brookfield Property Partners LP, which is among the guarantors of the notes.

Issuer:	Brookfield Property Finance ULC
Guarantors:	Brookfield Property Partners LP, Brookfield Property LP, Brookfield BPY Holdings Inc., Brookfield BPY Retail Holdings II Inc., BPY Bermuda Holdings Ltd., BPY Bermuda Holdings II Ltd., BPY Bermuda Holdings IV Ltd., BPY Bermuda Holdings V Ltd. and BPY Bermuda Holdings VI Ltd.
Amount:	C$350 million
Maturity:	March 1, 2024
Securities:	Series 3 medium-term notes
Bookrunners:	CIBC World Markets Inc., RBC Dominion Securities Inc., TD Securities Inc. and Scotia Capital Inc.
Co-managers:	BMO Nesbitt Burns Inc., HSBC Securities (Canada) Inc. and National Bank Financial Inc.
Coupon:	4.3%
Price:	99.957
Yield:	4.309%
Call features:	Make-whole call before Feb. 1, 2024 at price equal to greater of Government of Canada yield plus 61.5 bps and par; thereafter at par
Change-of-control put:	101%
Pricing date:	Feb. 11
Settlement date:	Feb. 13
Ratings:	S&P: BBB-
	DBRS: BBB
Distribution:	Canada

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