Brookfield Infrastructure Corporation announced a new at‑the‑market (ATM) equity issuance program that will allow the company to offer and sell up to $400 million of class A exchangeable voting shares directly from its treasury. Shares can be sold at prevailing market prices on the Toronto Stock Exchange, the New York Stock Exchange, or other eligible venues, and each share is exchangeable for a partnership unit of Brookfield Infrastructure Partners L.P., ensuring the program is largely non‑dilutive to existing investors.
The proceeds from the ATM program will be directed to Brookfield Infrastructure Partners’ normal‑course issuer bid (NCIB) program, which repurchases partnership units when they are deemed undervalued, and to general corporate purposes. By tying the equity issuance to the NCIB, the company preserves its capital structure while gaining a flexible source of capital that can be deployed when market conditions are favorable.
Brookfield Infrastructure’s parent reported strong Q3 2025 results, with funds‑from‑operations per unit rising 9 % year‑over‑year to $0.83, net income of $440 million on $5.98 billion of revenue, and a quarterly distribution of $0.43 per unit. The company also generated more than $3 billion in asset‑sale proceeds year‑to‑date and is investing up to $500 million annually in AI‑related infrastructure, underscoring its confidence in long‑term cash‑flow generation and its commitment to capital recycling.
The ATM program will remain open until February 28, 2027, or until the $400 million cap is reached, whichever comes first. This timeline gives Brookfield Infrastructure flexibility to tap the program over a multi‑year horizon while limiting exposure to market volatility.
Strategically, the program expands Brookfield Infrastructure’s capital‑raising toolkit, allowing the company to align funding with investment opportunities and to reduce reliance on larger, less frequent equity offerings. The non‑dilutive structure and the linkage to the NCIB program signal management’s confidence in the partnership’s valuation and cash‑flow profile, while providing a new source of liquidity that can support future acquisitions, infrastructure upgrades, and continued dividend growth.
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