Transaction|October 30, 2015
Brookfield Infrastructure completes C$500 million medium term note offering
Torys acted as counsel to Brookfield Infrastructure with a team that included Karrin Powys-Lybbe, Jonathan Cescon, Will Hooper and Robert Fatt (corporate/securities) and Richard Johnson (tax).
On October 30, 2015, Brookfield Infrastructure completed its offering of an aggregate principal amount of C$500 million of medium term notes, including C$375 million principal amount of Series 3 notes, due October 30, 2020, which will bear interest at a rate of 3.538% per annum, payable semi-annually and C$125 million principal amount of Series 4 notes, due October 30, 2018, which will bear interest at a rate of 3.034% per annum, payable semi-annually. The notes were offered through a syndicate of agents led by CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc. and TD Securities Inc.
Brookfield Infrastructure operates high quality, long-life assets that generate stable cash flows, require relatively minimal maintenance capital expenditures and, by virtue of barriers to entry and other characteristics, tend to appreciate in value over time. Its current business consists of the ownership and operation of premier utilities, transport and energy assets in North and South America, Australasia, and Europe. It also seeks acquisition opportunities in other infrastructure sectors with similar attributes. Brookfield Infrastructure's payout policy targets 5% to 9% annual growth in distributions. Units trade on the New York and Toronto stock exchanges under the symbols BIP and BIP.UN, respectively.
Further information can be found on Brookfield Infrastructure's website.
Brookfield Infrastructure operates high quality, long-life assets that generate stable cash flows, require relatively minimal maintenance capital expenditures and, by virtue of barriers to entry and other characteristics, tend to appreciate in value over time. Its current business consists of the ownership and operation of premier utilities, transport and energy assets in North and South America, Australasia, and Europe. It also seeks acquisition opportunities in other infrastructure sectors with similar attributes. Brookfield Infrastructure's payout policy targets 5% to 9% annual growth in distributions. Units trade on the New York and Toronto stock exchanges under the symbols BIP and BIP.UN, respectively.
Further information can be found on Brookfield Infrastructure's website.