Brookfield Infrastructure to Issue $700 Million of Medium-Term Notes
November 09 2022 - 7:55PM
Brookfield Infrastructure (NYSE: BIP; TSX: BIP.UN) today announced
that it has agreed to sell $700 million aggregate principal amount
of medium-term notes (the “Notes”), comprised of $450 million
aggregate principal amount of Series 11 Notes, due November 14,
2027, which will bear interest at a rate of 5.616% per annum,
payable semi-annually and $250 million aggregate principal amount
of Series 12 Notes, due February 14, 2033, which will bear interest
at a rate of 5.980% per annum, payable semi-annually. 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 base
shelf prospectus dated December 11, 2020 and a related prospectus
supplement and pricing supplements to be dated November 9, 2022.
The issue is expected to close on or about November 14, 2022
subject to customary closing conditions. Brookfield Infrastructure
intends to use the net proceeds from the sale of the Notes to
refinance existing indebtedness.
The Notes are being offered through a syndicate
of agents led by TD Securities, BMO Capital Markets, Scotiabank,
CIBC Capital Markets and RBC Capital Markets.
This news release shall not constitute
an offer to sell or the solicitation of an offer to buy the
securities in any jurisdiction, nor shall there be any offer or
sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful. The securities being
offered have not been approved or disapproved by any regulatory
authority nor has any such authority passed upon the accuracy or
adequacy of the short form base shelf prospectus or the prospectus
supplement. The offer and sale of the securities has not been and
will not be registered under the United States Securities Act of
1933, as amended (the “U.S. Securities Act”) or any state
securities laws and may not be offered or sold in the United States
or to United States persons absent registration or an applicable
exemption from the registration requirements of the U.S. Securities
Act and applicable state securities laws.
Brookfield Infrastructure is a
leading global infrastructure company that owns and operates
high-quality, long-life assets in the utilities, transport,
midstream and data sectors across North and South America, Asia
Pacific and Europe. We are focused on assets that generate stable
cash flows and require minimal maintenance capital expenditures.
Investors can access its portfolio either through Brookfield
Infrastructure Partners L.P. (NYSE: BIP; TSX: BIP.UN), a
Bermuda-based limited partnership, or Brookfield Infrastructure
Corporation (NYSE, TSX: BIPC), a Canadian corporation. Further
information is available at https://bip.brookfield.com/.
Brookfield Infrastructure is the flagship listed
infrastructure company of Brookfield Asset Management, a global
alternative asset manager with over US$750 billion of assets under
management.
Contact information:
Media: |
Investors: |
Sebastien BouchardVice President, Communications Tel: (416)
943-7937Email: sebastien.bouchard@brookfield.com |
Stephen FukudaVice President, Corporate Development & Investor
RelationsTel: (416) 956-5129Email:
stephen.fukuda@brookfield.com |
Note: This news release contains forward-looking
statements and information within the meaning of applicable
securities laws. The words “will”, “expected”, “intends” or
derivations thereof and other expressions which are predictions of
or indicate future events, trends or prospects, and which do not
relate to historical matters, identify the above mentioned and
other forward-looking statements. Forward-looking statements in
this news release include statements regarding the terms, use of
proceeds and closing of the offering. Although Brookfield
Infrastructure believes that these forward-looking statements and
information are based upon reasonable assumptions and expectations,
the reader should not place undue reliance on them, or any other
forward-looking statements or information in this news release. The
future performance and prospects of Brookfield Infrastructure are
subject to a number of known and unknown risks and uncertainties.
Factors that could cause actual results of Brookfield
Infrastructure to differ materially from those contemplated or
implied by the statements in this news release are described in the
documents filed by Brookfield Infrastructure with the securities
regulators in Canada and the United States including under “Risk
Factors” in Brookfield Infrastructure’s most recent Annual Report
on Form 20-F and other risks and factors that are described
therein. Except as required by law, Brookfield Infrastructure
undertakes no obligation to publicly update or revise any
forward-looking statements or information, whether as a result of
new information, future events or otherwise.
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