Brookfield Infrastructure Partners L.P. announced that it has agreed to issue $250 million aggregate principal amount of Fixed-to-Fixed Reset Rate Subordinated Notes (the "Notes") due September 1, 2055. The Notes will bear interest at an annual rate of 5.598% until September 1, 2030 and thereafter will be reset every five years at an annual rate equal to the Five Year Government of Canada Yield, plus a spread of 2.713%; provided, that the interest rate during any five-year interest period will not reset below 5.598%. Brookfield Infrastructure intends to use the net proceeds of the offering for general corporate purposes, including for the repayment of outstanding indebtedness.
The Notes will be issued by Brookfield Infrastructure Finance ULC, an indirect wholly-owned subsidiary of Brookfield Infrastructure, and are guaranteed on a subordinated basis by Brookfield Infrastructure and certain of its other subsidiaries. The Notes will be issued pursuant to a base shelf prospectus dated January 23, 2025 and a related prospectus supplement to be dated May 14, 2025. The issue is expected to close on or about May 16, 2025 subject to customary closing conditions.
The Notes are being offered through a syndicate of underwriters led by CIBC Capital Markets, Scotiabank, TD Securities, BMO Capital Markets, National Bank Financial Markets and RBC Capital Markets.
