Brookfield Corporation (NYSE:BN) is one of the cheap stocks to buy for the next 10 years.
On April 16, Brookfield Corporation announced the pricing of two debt offerings totaling C$750 million
This includes C$500 million in medium-term notes due in 2036 with an annual interest rate of 4.803%. Additionally, the company is re-opening its 5.399% medium-term notes due in 2055 for an additional C$250 million, bringing the total aggregate principal for that series to C$900 million. The 2055 notes are being issued at 99.495% of their face value, resulting in an effective yield of 5.433% if held to maturity.
These offerings have been assigned investment-grade credit ratings, including A- from Standard & Poor’s and A3 from Moody’s. The notes are being managed by a syndicate of major Canadian financial institutions, including CIBC, BMO, and RBC Capital Markets. Net proceeds from the sale of these notes are intended for general corporate purposes.