Brookfield Wealth: 15-Min Chart Triggers RSI Oversold, KDJ Golden Cross

According to Brookfield Wealth's 15-minute chart, the Relative Strength Index (RSI) has entered oversold territory and the KDJ Golden Cross has been triggered as of March 9, 2023 at 14:45. This suggests that the stock price has declined precipitously and fallen below its fundamental support level, indicating a shift in momentum towards an upward trajectory and potentially further price appreciation.

Brookfield Wealth Solutions (BWS) has successfully syndicated a majority of Royal Bank of Canada’s commitments under the financing arrangements for its planned acquisition of Just Group. The acquisition, first announced on 31 July, will see Bidco, a wholly owned subsidiary of BWS, purchase the entire issued and to be issued share capital of Just by way of a court-sanctioned scheme of arrangement. Just published its scheme document on 26 August [1].

In connection with the deal, Bidco entered into a term credit agreement and a bridge credit agreement with Royal Bank of Canada on 30 July, with RBC Capital Markets acting as lead arranger and bookrunner. These agreements were amended following syndication through amendment and assignment agreements signed on 28 August. The revised terms included a credit adjustment spread for dollar-denominated loans, an additional 0.05% structuring fee on certain bridge loan commitments, and other clarifications covering lender titles and Bidco’s obligations regarding ranking of the credit facilities [1].

At 1043 BST, shares in Just Group were flat at 211p, reflecting market sentiment towards the acquisition and its financing arrangements.

References:
[1] https://www.sharecast.com/news/news-and-announcements/brookfield-wealth-updates-market-on-just-group-acquisition-financing--20798606.html