On May 13, 2025, Brookfield Infrastructure Partners L.P. announced an agreement to issue $250 million aggregate principal amount of Fixed-to-Fixed Reset Rate Subordinated Notes due September 1, 2055. The Notes will bear interest at an annual rate of 5.598% until September 1, 2030.
Following this initial period, the interest rate will reset every five years at an annual rate equal to the Five Year Government of Canada Yield, plus a spread of 2.713%, with a floor of 5.598%. The Notes will be issued by Brookfield Infrastructure Finance ULC, an indirect wholly-owned subsidiary, and guaranteed on a subordinated basis by Brookfield Infrastructure and certain other subsidiaries.
The net proceeds from this offering are intended for general corporate purposes, including the repayment of outstanding indebtedness. The issue is expected to close on or about May 16, 2025, subject to customary closing conditions, further strengthening the company's balance sheet.
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