Transaction|April 7, 2020
Brookfield Infrastructure issues C$400 million of medium term notes
Torys acted as counsel to Brookfield Infrastructure with a team that included Karrin Powys-Lybbe, Jonathan Cescon and Michael Murphy (corporate/securities) and Richard Johnson and Josh Morry (tax).
On April 03, 2020, Brookfield Infrastructure agreed to sell C$400 million aggregate principal amount of medium term notes, comprised of C$200 million aggregate principal amount of a reopening of its 4.193% medium term notes, Series 6, due September 11, 2028 and C$200 million aggregate principal amount of a reopening of its 3.41% medium term notes, Series 7, due October 9, 2029.
The terms of the notes, other than the issue date and the price to the public, were identical to the terms of the C$500 million aggregate principal amount of 4.193% medium term notes, Series 6, due September 11, 2028 and the C$500 million aggregate principal amount of 3.41% medium term notes, Series 7, due October 9, 2029 that were issued by Brookfield Infrastructure in September 2018 and October 2019, respectively. The Series 6 notes and Series 7 notes were issued at a price of C$100.552 and C$94.244, respectively, plus accrued interest, with an effective yield of 4.113% and 4.149%, respectively, if held to maturity. An aggregate principal amount of C$700 million of 4.193% medium term notes, Series 6, due September 11, 2028 and an aggregate principal amount of $700 million of 3.41% medium term notes, Series 7, due October 9, 2029 will be outstanding after giving effect to this offering.
A subsidiary of Brookfield Infrastructure, Brookfield Infrastructure Finance ULC will be the recipient of the net proceeds and have primary responsibility for the payment of principal and interest on the notes. Brookfield Infrastructure intends to use the net proceeds from the sale to fund an active pipeline of investment opportunities and for general working capital purposes. The notes will be fully and unconditionally guaranteed by Brookfield Infrastructure and certain of its key holding subsidiaries.
The notes were offered through a syndicate of agents led by RBC Dominion Securities Inc., TD Securities Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc. and CIBC World Markets Inc., and including National Bank Financial Inc., HSBC Securities (Canada) Inc. and MUFG Securities (Canada), Ltd.
Brookfield Infrastructure 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.
Further information can be found on Globe Newswire's website.
The terms of the notes, other than the issue date and the price to the public, were identical to the terms of the C$500 million aggregate principal amount of 4.193% medium term notes, Series 6, due September 11, 2028 and the C$500 million aggregate principal amount of 3.41% medium term notes, Series 7, due October 9, 2029 that were issued by Brookfield Infrastructure in September 2018 and October 2019, respectively. The Series 6 notes and Series 7 notes were issued at a price of C$100.552 and C$94.244, respectively, plus accrued interest, with an effective yield of 4.113% and 4.149%, respectively, if held to maturity. An aggregate principal amount of C$700 million of 4.193% medium term notes, Series 6, due September 11, 2028 and an aggregate principal amount of $700 million of 3.41% medium term notes, Series 7, due October 9, 2029 will be outstanding after giving effect to this offering.
A subsidiary of Brookfield Infrastructure, Brookfield Infrastructure Finance ULC will be the recipient of the net proceeds and have primary responsibility for the payment of principal and interest on the notes. Brookfield Infrastructure intends to use the net proceeds from the sale to fund an active pipeline of investment opportunities and for general working capital purposes. The notes will be fully and unconditionally guaranteed by Brookfield Infrastructure and certain of its key holding subsidiaries.
The notes were offered through a syndicate of agents led by RBC Dominion Securities Inc., TD Securities Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc. and CIBC World Markets Inc., and including National Bank Financial Inc., HSBC Securities (Canada) Inc. and MUFG Securities (Canada), Ltd.
Brookfield Infrastructure 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.
Further information can be found on Globe Newswire's website.