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Brookfield Residential Properties Inc. Prices Offering of Senior Unsecured Notes 

All dollar references are in U.S. dollars unless noted otherwise.CALGARY, Alberta, Feb. 11, 2020 (GLOBE NEWSWIRE) -- Brookfield Residential Properties Inc. (a??BRPIa??) and Brookfield Residential US LLC (a??BRUS LLCa??) today announced that they have priced the private placement offering of $500 million aggregate principal amount of senior unsecured notes due 2030 (the a??notesa??).The notes will bear interest at a rate of 4.875% per annum and will be issued at a price of 100% of the aggregate principal amount. We intend to use the net proceeds from this offering, together with cash on hand, to fund the redemption price of our existing 6.125% Senior Notes due July 1, 2022 (the a??Existing Notesa??), and pay fees and expenses associated with that transaction and this offering. On February 11, 2020, we issued a notice for the redemption in full of these Existing Notes, conditioned on the closing of this offering or other financing with sufficient proceeds to redeem such notes. We expect to close the offering of the notes on February 26, 2020, subject to customary closing conditions.The notes have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the a??Securities Acta??), or any state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration under, or an applicable exemption from, the registration requirements of the Securities Act and applicable state securities laws. The notes are being offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act, or outside the United States to persons other than a??U.S. personsa?? in compliance with Regulation S under the Securities Act. In Canada, the notes will be offered and sold on a private placement basis in certain provinces to accredited investors in reliance on available exemptions from the prospectus requirement of applicable Canadian securities laws.This press release does not constitute an offer to sell or the solicitation of an offer to buy the notes or any other security and shall not constitute an offer, solicitation or sale in any jurisdiction in which, or to any persons to whom, such offering, solicitation or sale would be unlawful.A  Any offers of the notes will be made only by means of a private offering memorandum.
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