By Cristal Cody
Tupelo, Miss., Oct. 4 – Brookfield Infrastructure Partners, ULC priced an upsized C$500 million of 10-year senior medium-term notes (BBB+) on Thursday at par to yield 3.41%, according to additional details of the offering in term sheets.
The deal was upsized from C$400 million.
RBC Dominion Securities Inc., Scotia Capital Inc, CIBC World Markets Inc. and BMO Nesbitt Burns Inc. were the lead managers.
The notes are fully and unconditionally guaranteed by Brookfield Infrastructure Partners, LP and certain key holding subsidiaries.
Brookfield Infrastructure intends to provide the proceeds to subsidiary Brookfield Infrastructure Finance ULC to partially refinance 3.538% notes that will mature in October 2020, to fund a pipeline of investment opportunities and for general working capital purposes.
The Toronto-based company owns and operates assets in the utilities, transport, energy and communications infrastructure sectors across North and South America, Asia Pacific and Europe.
| Issuer: | Brookfield Infrastructure Partners, ULC
|
| Guarantors: | Brookfield Infrastructure Partners, LP and certain key holding subsidiaries
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| Amount: | C$500 million
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| Maturity: | Oct. 9, 2029
|
| Securities: | Series 7 senior medium-term notes
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| Bookrunners: | RBC Dominion Securities Inc., Scotia Capital Inc, CIBC World Markets Inc. and BMO Nesbitt Burns Inc.
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| Co-managers: | TD Securities Inc., HSBC Securities (Canada) Inc. and National Bank Financial Inc.
|
| Coupon: | 3.41%
|
| Price: | Par
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| Yield: | 3.41%
|
| Call features: | Make-whole call before July 9, 2029 at greater of par and Government of Canada bond yield plus 53.5 bps; thereafter at par
|
| Change-of-control put: | 101%
|
| Pricing date: | Oct. 3
|
| Settlement date: | Oct. 7
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| Rating: | S&P: BBB+
|
| Distribution: | Canada
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