Brookfield Infrastructure to Issue $500 Million of Medium-Term Notes
September 07, 2018 at 03:19 am IST
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Brookfield Infrastructure Partners L.P. announced that it has agreed to sell $500 million aggregate principal amount of medium-term notes, Series 6, due September 11, 2028, which will bear interest at a rate of 4.193% 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 16, 2016 and a related prospectus supplement and pricing supplement to be dated September 6, 2018. The issue is expected to close on or about September 10, 2018 subject to customary closing conditions. Brookfield Infrastructure intends to use the net proceeds from the sale of the Notes to refinance indebtedness that will mature in October 2018, to fund an active pipeline of new investment opportunities and a growing backlog of committed organic growth capital expenditure projects, 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., CIBC World Markets Inc., Scotia Capital Inc. and TD Securities Inc.
Brookfield Infrastructure Partners L.P. is a global infrastructure company. The Company owns and operates in the utilities, transport, midstream and data sectors across the Americas, Asia Pacific and Europe. The Companyâs segments include Utilities, Transport, Midstream, Data and Corporate. The Utilities segment consists of regulated transmission (natural gas and electricity) and commercial and residential distribution (electricity, natural gas, and water connections) operations. The Transport segment comprises infrastructure assets that provide transportation, storage and handling services for merchandise goods, commodities, and passengers. The Midstream segment comprises systems that provide natural gas transmission, gathering and processing, and storage services. The Data segment comprises critical infrastructure servicing customers in the telecommunications, fiber, and data storage sectors. It is also a data center provider.