Brookfield Infrastructure Partners has announced it will sell C$300 million ($228.3 million, €216.5 million) aggregate principal in medium-term notes, with the issuance set to close today.
The Series 5 notes will come with a 3.315-percent yearly interest rate, payable semi-annually, and will be due 22 February 2024. Proceeds from the sale of the securities, which are rated BBB+ by Standard & Poor’s, will be used to partially refinance debt maturing in October, Brookfield said.
The notes are offered through a syndicate of agents led by CIBC World Markets, RBC Dominion Securities and TD Securities, according to Brookfield. The rate is in the same range as BIP’s last announced note issuance, which happened nearly a year and a half ago. The firm sold C$500 million of Series 3 and 4 notes at rates of 3.538 percent and 3.034 percent, respectively, in October 2015.
BIP is the US-listed infrastructure company of Toronto-based Brookfield Asset Management, which holds $250 billion in assets under management. Earlier this month, BIP reported $474 million net income in 2016, up from $298 million the previous year.
If you do not receive this within five minutes, please try to sign in again. If the problem persists, please email: