RE:Terms for $25/share Payout, Who here thinks $25 should have It sounds like it should've been paid based on the BPO.PRx prospectus. But I found this from when BPO was absorbed:
Brookfield Property Split Corp. (“BOP Split Corp.”) was incorporated for the purpose of being an issuer of preferred shares and
owning a portion of the partnership’s investment in Brookfield Office Properties Inc. (“BOPI”) common shares. Pursuant to the terms of a
Plan of Arrangement, holders of outstanding BPO Class AAA Preferred Shares Series G, H, J and K, which were convertible into BPO
common shares, were able to exchange their shares for BOP Split Senior Preferred Shares, subject to certain conditions. The BOP Split
Senior Preferred shares are listed on the TSX and began trading on June 11, 2014. All shares issued by BOP Split are retractable by the
holders at any time for cash.
In connection with an internal restructuring completed in July 2016, the partnership and certain of its related entities agreed to
guarantee all of BPO’s Class AAA Preferred Shares and all of BPO’s debt securities issued pursuant to BPO’s indenture dated December
8, 2009.
In April 2018, the partnership formed two subsidiaries, Brookfield Property Finance ULC and Brookfield Property Preferred
Equity Inc. to act as issuers of debt and preferred securities, respectively. The partnership and certain of its related entities have agreed to
guarantee securities issued by these entities.