This document does not provide full disclosure of all material facts relating to the securities offered. Investors should read the final base shelf prospectus, any amendment and any applicable shelf prospectus supplement for disclosure of those facts, especially risk factors relating to the securities offered, before making an investment decision – Form 6-K
This document does not provide full disclosure of all material facts relating to the securities offered. Investors should read the final base shelf prospectus, any amendment and any applicable shelf prospectus supplement for disclosure of those facts, especially risk factors relating to the securities offered, before making an investment decision.
US$[500,000,000] [•]% NOTES DUE 2033
PRELIMINARY TERM SHEET
| Issuer: | ||
| Guarantor: | ||
| Guarantee: | The Notes (as defined below) will be fully and unconditionally guaranteed as to payment of principal, premium (if any) and interest and certain other amounts by |
|
| Guarantor's Ticker: | BN | |
| Security: | [•]% Senior Unsecured Notes due |
|
| Format: | ||
| Size: |
US$[500,000,000] One or more of the underwriters may sell to affiliates of |
|
| Trade Date: |
| Expected Settlement Date: | ||
| Maturity Date: | ||
| Coupon: | [•]% | |
| Interest Payment Dates: | ||
| Price to Public: | [•]% | |
| Benchmark |
[The Spread to Benchmark Treasury, and any disclosure relating to the Spread to Benchmark Treasury, has been removed in accordance with subsection 9A.3(4) of National Instrument 44-102 - Shelf Distributions ("NI 44-102").] | |
| Benchmark Treasury Price & Yield: | [The Spread to Benchmark Treasury, and any disclosure relating to the Spread to Benchmark Treasury, has been removed in accordance with subsection 9A.3(4) of NI 44-102.] | |
| Spread to Benchmark Treasury: | [The Spread to Benchmark Treasury, and any disclosure relating to the Spread to Benchmark Treasury, has been removed in accordance with subsection 9A.3(4) of NI 44-102.] | |
| Yield: | [•]% | |
| Denominations: | Initial denominations of |
|
| Covenants: | Change of control (put @ 101%) Negative pledge Consolidation, merger, amalgamation and sale of substantial assets |
2
| Redemption Provisions: | ||
| Make-Whole Call: | Prior to |
|
| Par Call: | At any time on or after |
|
| Use of Proceeds: | Redemption of all or a portion of the outstanding 4.000% Senior Unsecured Notes due |
|
| CUSIP/ISIN: | 11259N AA2 / US11259NAA28 | |
| Joint Book-Running Managers1: | ||
| Co-Managers: | [•] |
Capitalized terms used and not defined herein have the meanings assigned in the Issuer and the Guarantor's Prospectus Supplement, dated
Under Rule 15c6-1 under the Exchange Act, trades in the secondary market generally are required to settle in two business days unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the Notes on the date of pricing will be required, by virtue of the fact that the Notes initially will settle in T+5, to specify an alternative settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of the Notes who wish to trade the Notes on the date of pricing should consult their own advisors.
The Notes will be issued as a separate series of debt securities under a first supplemental indenture to be dated as of the date of the issuance of the Notes (the "First Supplemental Indenture") to the base indenture to be dated as of
No PRIIPs or
| 1 | This offering will be made in |
3
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