Brookfield Infrastructure Announce Sale of Medium Term Notes

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Medium Term Notes blog update courtesy of Market Wired.

Brookfield Infrastructure (NYSE:BIP)(TSX:BIP.UN) today announced that it has agreed to sell an aggregate principal amount of $450 million of medium-term notes, Series 2, due March 11, 2022, which will bear interest at a rate of 3.452% per annum, payable semi-annually (the “Notes”). A subsidiary of Brookfield Infrastructure, Brookfield Infrastructure Finance ULC, will be the recipient of the net proceeds and have primary responsibility for the payment of principal and interest on the Notes. The Notes will be fully and unconditionally guaranteed by Brookfield Infrastructure and certain of its key holding subsidiaries.

The Notes will be issued pursuant to a short form base shelf prospectus dated December 29, 2014, a related prospectus supplement dated March 5, 2015 and a related pricing supplement to be dated March 5, 2015. The issue is expected to close on or about March 11, 2015 subject to customary closing conditions.

Brookfield Infrastructure intends to use the net proceeds from the sale of the Notes for general corporate purposes, including to fund new investments that were previously announced and repay amounts outstanding under its credit facilities.

The Notes have been rated BBB+ by Standard & Poor’s Rating Services.

The Notes are being offered through a syndicate of agents led by RBC Dominion Securities Inc., HSBC Securities (Canada) Inc., and TD Securities Inc.

About Brookfield Infrastructure

Brookfield Infrastructure operates high quality, long-life assets that generate stable cash flows, require relatively minimal maintenance capital expenditures and, by virtue of barriers to entry and other characteristics, tend to appreciate in value over time. Its current business consists of the ownership and operation of premier utilities, transport and energy assets in North and South America, Australasia, and Europe. It also seeks acquisition opportunities in other infrastructure sectors with similar attributes. Brookfield Infrastructure’s payout policy targets 5% to 9% annual growth in distributions. Units trade on the New York and Toronto stock exchanges under the symbols BIP and BIP.UN, respectively.

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