Brookfield Infrastructure Issues $200 Million Inaugural Green Preferred Units
All amounts in U.S. dollars unless otherwise stated
BROOKFIELD, News, Sept. 21, 2020 (GLOBE NEWSWIRE) -- Brookfield Infrastructure Partners L.P. (TSX: BIP.UN; NYSE: BIP) (“Brookfield Infrastructure”) today closed the public issuance of 8,000,000 Class A Preferred Limited Partnership Units, Series 13 (the “Series 13 Preferred Units”) for gross proceeds of $200 million.
Holders of the Series 13 Preferred Units will be entitled to receive a cumulative quarterly fixed distribution of 5.125% per annum. The Series 13 Preferred Units have been approved for listing on the New York Stock Exchange under the symbol “BIP PR A.”
“We are pleased to issue these inaugural green preferred units and further enhance our commitment to sustainable investment practices,” said Sam Pollock, Chief Executive Officer of Brookfield Infrastructure Partners. “These practices are integrated into all aspects of our business, and this issuance further demonstrates the market’s support for our approach.”
Brookfield Infrastructure intends to use the net proceeds of the offering to finance and/or refinance recently completed and future Eligible Green Projects, including the development and redevelopment of such projects. Pending the allocation of an amount equal to the net proceeds of the offering, the unallocated portion will be used to repay amounts drawn under Brookfield Infrastructure’s unsecured revolving credit facility.
Morgan Stanley & Co. LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, RBC Capital Markets, LLC and Wells Fargo Securities, LLC acted as joint bookrunning managers for the public offering. TD Securities (USA) LLC acted as co-manager for the public offering.
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.
Brookfield Infrastructure Partners
Brookfield Infrastructure Partners 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 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.