Partners Value Split Corp. has entered into an agreement to sell 5,000,000 Class AA Preferred Shares, Series 18, at $25.00 per share, generating gross proceeds of $125,000,000, according to a company statement.

The offering is being conducted on a bought deal basis through a syndicate of underwriters led by Scotiabank, BMO Capital Markets, CIBC Capital Markets, RBC Capital Markets, and TD Securities Inc. The Series 18 Preferred Shares carry a fixed coupon of 5.30% and have a final maturity date of September 29, 2033. DBRS Limited has assigned the shares a provisional rating of Pfd-2.

The company has granted underwriters an option to purchase up to an additional 1,000,000 shares at the same price prior to closing, which would raise total gross proceeds to $150,000,000 if exercised in full. Closing is expected on or about October 15, 2026.

Net proceeds will be used to make distributions to holders of the company's capital shares. Partners Value Split Corp. holds a portfolio of approximately 179 million Class A Limited Voting Shares of Brookfield Corporation (NYSE/TSX: BN) and approximately 25 million Class A Limited Voting Shares of Brookfield Asset Management Ltd. (NYSE/TSX: BAM).