Post #314 by DTB on the Brookfield Corporation board

Stocks A to Z / Stocks B / Brookfield Corporation (BN)

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aising debt to refinance debt strikes me as something to pay attention to.

So…to the Shrewd brain trust, is this just normal course of business for BN?

This is completely normal.

They have debts coming due in early 2014, meaning they need to pay back that capital, presumably about $700m worth. So in order to pay off their debt as is required by law, they either have to have $700m lying around that they don't need, or they have to sell new debt, as they are doing. And they don't want to wait until weeks before expiry, because you never know what markets might do, so they issue that debt now, giving them a few months' leeway.

dtb

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