The $700 million aggregate principal amount of medium-term notes will be sold by Brookfield Infrastructure, according to a press release today. The notes will be divided into $450 million aggregate principal amount of Series 11 Notes, due November 14, 2027, which will bear interest at a rate of 5.616 per cent per year, 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 5.98 per cent per year, payable semi-annually.
The net proceeds will be given to Brookfield Infrastructure Finance ULC, a Brookfield Infrastructure affiliate, which will also be in charge of paying the Notes’ principal and interest. The Notes will have the complete and unqualified backing of Brookfield Infrastructure and a few of its significant holding companies.
A base shelf prospectus dated December 11, 2020, along with a relevant prospectus supplement and pricing supplements to be dated November 9, 2022, will serve as the legal basis for the issuance of the Notes.
The closure of the issue is anticipated to occur on or around November 14, 2022, subject to the usual closing requirements. The net proceeds from the sale of the Notes will be used by Brookfield Infrastructure to restructure existing debt.
A group of brokers, including TD Securities, BMO Capital Markets, Scotiabank, CIBC Capital Markets, and RBC Capital Markets, is leading the offering of the Notes.
Across North and South America, Asia Pacific, and Europe, Brookfield Infrastructure, a major global infrastructure firm, owns and manages high-quality, long-lived assets in the utilities, transportation, midstream, and data sectors.
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