Opérations et transactions|13 mai 2013
Brookfield Infrastructure completes offering of 6,258,655 limited partnership units
Torys acted as counsel to Brookfield Infrastructure Partners with a team that included Karrin Powys-Lybbe, Mile Kurta, Jonathan Cescon, Christopher Roehrig, Paulina Taneva and Miranda Callaghan.
On May 13, 2013, Brookfield Infrastructure Partners completed a public offering in Canada and the United States of approximately US$246 million limited partnership units, which included the exercise in full of the underwriters' over-allotment option.
On the same day, Brookfield Asset Management completed the concurrent purchase, by way of private placement, of approximately US$94 million (including the exercise in full of its additional purchase option) of redeemable partnership units of Brookfield Infrastructure's holding limited partnership to maintain its approximate 30% interest in Brookfield Infrastructure on a fully exchanged basis.
RBC Dominion Securities Inc., TD Securities Inc., HSBC Securities (Canada) Inc., Credit Suisse Securities (Canada) Inc. and Citigroup Global Markets Canada Inc. acted as the joint bookrunning managers of the public offering.
Brookfield Infrastructure Partners 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, energy, and timber assets in North and South America, Australasia and Europe. It also seeks acquisition opportunities in other infrastructure sectors with similar attributes. The payout policy targets 3% to 7% 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 the company's website.
On the same day, Brookfield Asset Management completed the concurrent purchase, by way of private placement, of approximately US$94 million (including the exercise in full of its additional purchase option) of redeemable partnership units of Brookfield Infrastructure's holding limited partnership to maintain its approximate 30% interest in Brookfield Infrastructure on a fully exchanged basis.
RBC Dominion Securities Inc., TD Securities Inc., HSBC Securities (Canada) Inc., Credit Suisse Securities (Canada) Inc. and Citigroup Global Markets Canada Inc. acted as the joint bookrunning managers of the public offering.
Brookfield Infrastructure Partners 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, energy, and timber assets in North and South America, Australasia and Europe. It also seeks acquisition opportunities in other infrastructure sectors with similar attributes. The payout policy targets 3% to 7% 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 the company's website.