Brookfield Infrastructure Completes 30-Year Subordinated Note Offering
Brookfield Infrastructure announced the completion of a $300 million Fixed-to-Fixed Reset Rate Subordinated Notes offering, due March 15, 2055. The notes will initially bear a 6.750% annual interest rate until March 15, 2030, after which the rate will reset every five years based on the five-year U.S. treasury rate plus a 2.453% spread, with a minimum rate of 6.750%. The notes were issued by Brookfield Infrastructure Finance ULC and are guaranteed by Brookfield Infrastructure and certain subsidiaries. The proceeds will be used to refinance existing debt and for general corporate purposes.
Brookfield Infrastructure ha annunciato il completamento di un'offerta di note subordinate a tasso fisso per un importo di 300 milioni di dollari, con scadenza il 15 marzo 2055. Le note avranno inizialmente un tasso di interesse annuale del 6,750% fino al 15 marzo 2030, dopodiché il tasso si ripristinerà ogni cinque anni in base al tasso dei treasury statunitensi a cinque anni più uno spread del 2,453%, con un tasso minimo del 6,750%. Le note sono state emesse da Brookfield Infrastructure Finance ULC e sono garantite da Brookfield Infrastructure e da alcune sussidiarie. I proventi saranno utilizzati per rifinanziare debiti esistenti e per scopi aziendali generali.
Brookfield Infrastructure anunció la finalización de una oferta de notas subordinadas a tasa fija por un total de 300 millones de dólares, con vencimiento el 15 de marzo de 2055. Las notas llevarán inicialmente una tasa de interés anual del 6,750% hasta el 15 de marzo de 2030, después de lo cual la tasa se reajustará cada cinco años según la tasa de tesorería estadounidense a cinco años más un margen del 2,453%, con una tasa mínima del 6,750%. Las notas fueron emitidas por Brookfield Infrastructure Finance ULC y están garantizadas por Brookfield Infrastructure y ciertas subsidiarias. Los ingresos se utilizarán para refinanciar deudas existentes y para fines corporativos generales.
브룩필드 인프라스트럭처는 3억 달러 규모의 고정-고정 리셋 금리 하위 채권 공모를 완료했음을 발표했습니다. 이 채권은 2055년 3월 15일 만기로, 처음에는 2030년 3월 15일까지 연 6.750%의 이율을 적용받습니다. 이후 이율은 5년마다 미국 5년 만기 국채 금리에 2.453%의 가산금리를 더한 후 재설정되며, 최소 이율은 6.750%입니다. 이 채권은 브룩필드 인프라스트럭처 금융 ULC에 의해 발행되었으며, 브룩필드 인프라스트럭처와 일부 자회사가 보증합니다. 수익금은 기존 부채를 재융자하고 일반 기업 목적에 사용될 예정입니다.
Brookfield Infrastructure a annoncé l'achèvement d'une offre de 300 millions de dollars d'
Brookfield Infrastructure gab den Abschluss eines Angebots von 300 Millionen Dollar an nachrangigen festverzinslichen Anleihen bekannt, das am 15. März 2055 fällig ist. Die Anleihen werden zunächst bis zum 15. März 2030 einen jährlichen Zinssatz von 6,750% aufweisen, nach dem der Zinssatz alle fünf Jahre basierend auf dem fünfjährigen US-Staatsanleihen-Zinssatz zuzüglich eines Aufschlags von 2,453% angepasst wird, mit einem Mindestzinssatz von 6,750%. Die Anleihen wurden von Brookfield Infrastructure Finance ULC ausgegeben und werden von Brookfield Infrastructure und bestimmten Tochtergesellschaften garantiert. Die Erlöse werden verwendet, um bestehende Schulden zu refinanzieren und für allgemeine Unternehmenszwecke.
- Successful completion of $300 million note offering providing long-term financing
- 30-year maturity extends debt profile to 2055
- Minimum interest rate guarantee of 6.750% provides rate certainty
- Relatively high initial interest rate of 6.750% increases debt service costs
- Additional long-term debt obligation impacts balance sheet leverage
Insights
The
The subordinated nature of these notes indicates they rank below senior debt in the capital structure, typically commanding higher yields to compensate for increased risk. The refinancing aspect suggests proactive liability management, potentially lowering overall borrowing costs or extending maturity profiles. The strong syndicate of investment banks underwriting the offering reflects robust institutional interest and market confidence in Brookfield Infrastructure's credit quality.
All amounts in U.S. dollars
BROOKFIELD, News, Nov. 29, 2024 (GLOBE NEWSWIRE) -- Brookfield Infrastructure Partners L.P. (NYSE: BIP; TSX: BIP.UN) (“Brookfield Infrastructure”) today announced the closing of a public offering of
The notes will bear interest at an annual rate of
The notes were 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.
BofA Securities, Inc., Mizuho Securities USA LLC, RBC Capital Markets, LLC, Santander US Capital Markets LLC, BMO Capital Markets Corp., MUFG Securities Americas Inc., Scotia Capital (USA) Inc. and SMBC Nikko Securities America, Inc. acted as joint book-running managers for the offering.
This news release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
About Brookfield Infrastructure
Brookfield Infrastructure is a leading global infrastructure company that owns and operates high-quality, long-life assets in the utilities, transport, midstream and data sectors across the Americas, Asia Pacific and Europe. We are focused on assets that have contracted and regulated revenues that generate predictable and stable cash flows. 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.
Brookfield Infrastructure is the flagship listed infrastructure company of Brookfield Asset Management, a global alternative asset manager with over
Contact Information
| Media: | Investor Relations: |
| Simon Maine Managing Director, Corporate Communications Tel: +44 739 890 9278 Email: simon.maine@brookfield.com | Stephen Fukuda Senior Vice President, Corporate Development & Investor Relations Tel: +1 (416) 956 5129 Email: stephen.fukuda@brookfield.com |
Cautionary Statement Regarding Forward-looking Statements
This news release may contain forward-looking statements and information within the meaning of applicable securities laws. The words “will” and “intends”, derivatives thereof and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters, identify forward-looking statements. Forward-looking statements in this news release include statements regarding the notes and the use of proceeds therefrom. 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.
FAQ
What is the size and maturity of Brookfield Infrastructure's (BIP) November 2023 note offering?
What is the interest rate structure for BIP's 2023 subordinated notes?
How will Brookfield Infrastructure (BIP) use the proceeds from the 2023 note offering?
