Brookfield Asset Management establishes $1 billion commercial paper program

Brookfield Asset Management Ltd. (NYSE: BAM) announced it has established a $1 billion commercial paper program on a private placement basis. The program allows the company to issue unsecured commercial paper notes up to a maximum aggregate amount of $1 billion outstanding at any time.

The company stated the program is intended to diversify and strengthen its balance sheet by providing an additional source of short-term capital. Proceeds from any note issuances will be used for general corporate purposes.

The notes offered under the program will not be registered under the Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements.

Brookfield Asset Management is a global alternative asset manager headquartered in New York with over $1 trillion of assets under management across renewable power and transition, infrastructure, private equity, real estate, and credit sectors.

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