Brookfield Infrastructure to Issue $500 Million of Medium-Term Notes
August 27 2020 - 4:32PM
Brookfield Infrastructure (NYSE: BIP; TSX: BIP.UN) today announced
that it has agreed to sell $500 million aggregate principal amount
of medium-term notes, Series 8 (the “Notes”), due September 1,
2032, which will bear interest at a rate of 2.855% 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 November 23, 2018 and a related prospectus
supplement and pricing supplement to be dated August 27, 2020. The
issue is expected to close on or about September 1, 2020 subject to
customary closing conditions. Brookfield Infrastructure intends to
use the net proceeds from the sale of the Notes to redeem its
3.452% medium term notes due March 11, 2022 and for general working
capital purposes. 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., BMO Nesbitt Burns
Inc., HSBC Securities (Canada) Inc., National Bank Financial Inc.
and TD Securities Inc.
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, energy
and data infrastructure 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 www.brookfield.com/infrastructure.
Brookfield Infrastructure is the flagship listed
infrastructure company of Brookfield Asset Management, a global
alternative asset manager with approximately US$550 billion of
assets under management. For more information, go to
www.brookfield.com.
Contact information:
Media: |
Investors: |
Claire Holland Senior Vice President, Communications Tel: (416)
369-8236 Email: claire.holland@brookfield.com |
Kate White Manager, Investor Relations Tel: (416) 956-5183 Email:
kate.white@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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