Brookfield Infrastructure completes C$450 million medium term note offering
On March 11, 2015, Brookfield Infrastructure completed its offering of an aggregate principal amount of C$450 million of medium term notes, Series 2, due March 11, 2022, which will bear interest at a rate of 3.452% per annum, payable semi-annually. The notes were offered through a syndicate of agents led by RBC Dominion Securities Inc., HSBC Securities (Canada) 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.
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