All amounts in U.S. dollars
TORONTO, July 11, 2019 /CNW/ - Brookfield Infrastructure
(NYSE: BIP; TSX: BIP.UN) announced today that it has agreed to
issue 11,765,000 L.P. units, on a bought deal
basis, to a syndicate of underwriters co-led by RBC Capital
Markets, TD Securities Inc., CIBC Capital Markets, Credit
Suisse and Wells Fargo Securities Canada, Ltd. at a price of
$42.50 per L.P. unit (the
"Offering Price") for gross proceeds of $500,012,500 (the "Offering"). In addition,
Brookfield Asset Management Inc. (NYSE/TSX/Euronext: BAM) and
certain of its related entities (other than Brookfield
Infrastructure) (collectively, "Brookfield") will purchase,
directly or indirectly, 6,128,000 redeemable partnership
units of Brookfield Infrastructure's holding limited partnership
("RPUs") at the Offering Price (net of underwriting commissions)
concurrent with the Offering (the "Concurrent Private Placement").
The aggregate gross proceeds of the Offering and the Concurrent
Private Placement will be $750,034,900.
Brookfield Infrastructure has granted the underwriters an
over-allotment option, exercisable in whole or in part for a period
of 30 days following closing of the Offering, to purchase up
to an additional 1,764,750 L.P. units at the
Offering Price. If the over-allotment option is exercised in full,
the gross offering size would increase to $825,036,775.
Brookfield Infrastructure intends to use the net proceeds of the
Offering, together with the proceeds of the Concurrent Private
Placement, to fund an active and advanced pipeline of new
investment opportunities and for general working capital
purposes.
The Offering and the Concurrent Private Placement are expected
to close on or about July 17,
2019.
Offer Documents
Brookfield Infrastructure has filed a Registration Statement on
Form F-3 (including a prospectus) with the United States Securities
and Exchange Commission (the "SEC") in respect of the Offering.
Before you invest, you should read the prospectus in that
Registration Statement and other documents Brookfield
Infrastructure has filed with the SEC for more complete information
about Brookfield Infrastructure and the Offering. Brookfield
Infrastructure will also be filing a prospectus supplement relating
to the Offering with securities regulatory authorities in
Canada. You may get any of these
documents for free by visiting EDGAR on the SEC website at
www.sec.gov or via SEDAR at www.sedar.com. Also, Brookfield
Infrastructure, any underwriter or any dealer participating in the
offering will arrange to send you the prospectus or you may request
it in the United States from RBC
Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York, NY 10281-8098, Attention: Equity
Syndicate, Phone: 877-822-4089, Email: equityprospectus@rbccm.com,
or from TD Securities (USA) LLC,
31 W 52nd Street, New York, NY,
10019, Phone: 212-827-7392, or from CIBC World Markets Corp, 425
Lexington Ave, 5th Floor, New York,
NY, Phone: (800) 282-0822, Email: USEPROSPECTUS@CIBC.COM, or
from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department,
Eleven Madison Avenue, 3rd floor, New
York, NY 10010, Phone: 1-800-221-1037, Email:
usa.prospectus@credit-suisse.com, or from Wells Fargo Securities,
LLC, 375 Park Avenue, New York, New
York 10152, Attention: Equity Syndicate Department, Phone:
(800) 326-5897, Email: cmclientsupport@wellsfargo.com; or in
Canada from RBC Dominion
Securities Inc., 180 Wellington Street West, 8th Floor,
Toronto, ON M5J 0C2, Attention:
Distribution Centre, Phone: (416) 842-5349, Email:
Distribution.RBCDS@rbccm.com, or from TD Securities Inc.,
Attention: Symcor, NPM, Phone: 289-360-2009, Email:
sdcconfirms@td.com, 1625 Tech Avenue, Mississauga, Ontario, L4W 5P5, or from CIBC
World Markets Inc., Attention: Michelene
Dougherty, michelene.dougherty@cibc.ca or 416-956-3636, or
from Credit Suisse Securities (Canada), Inc., 1 First Canadian Place, Suite
2900, Toronto, Ontario, M5X 1C9,
Attention: Olivier Demet, Phone:
416-352-4749, Email: olivier.demet@credit-suisse.com, or from Wells
Fargo Securities Canada, Ltd., 22 Adelaide St. W., Suite 2200
Toronto ON M5H 4E3, Attention: Akshay
Pattni, Phone: 416 775 2954, Email:
Akshay.Pattni@Wellsfargo.com.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any securities of Brookfield
Infrastructure in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
Brookfield Infrastructure Partners 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. We are
focused on assets that generate stable cash flows and require
minimal maintenance capital expenditures. Brookfield Infrastructure
Partners is listed on the New York
and Toronto stock exchanges.
Further information is available at
www.brookfield.com/infrastructure and investors are encouraged
to consult the website.
Brookfield Infrastructure is the flagship listed infrastructure
company of Brookfield Asset Management, a leading global
alternative asset manager with over $365
billion of assets under management. For more information, go
to www.brookfield.com.
Note: This news release contains forward-looking statements
and information within the meaning of applicable securities laws.
The words, "will", "intend" and "expect" or derivations thereof and
other expressions which are predictions of or indicate future
events, trends or prospects, and which do not relate to historical
matters, identify forward-looking statements. Forward-looking
statements in this news release include statements regarding the
Offering and Concurrent Private Placement, the use of proceeds and
closing of the Offering and Concurrent Private Placement. Although
Brookfield Infrastructure believes that these forward-looking
statements and information are based upon reasonable assumptions
and expectations, the reader should not place undue reliance on
them, or any other forward-looking statements or information in
this news release. The future performance and prospects of
Brookfield Infrastructure are subject to a number of known and
unknown risks and uncertainties. Factors that could cause actual
results of Brookfield Infrastructure to differ materially from
those contemplated or implied by the statements in this news
release are described in the documents filed by Brookfield
Infrastructure with the securities regulators in Canada and the
United States including under "Risk Factors" in Brookfield
Infrastructure's most recent Annual Report on Form 20-F and other
risks and factors that are described therein and in, or
incorporated by reference in, the Registration Statement and
prospectus supplement thereto. Except as required by law,
Brookfield Infrastructure undertakes no obligation to publicly
update or revise any forward-looking statements or information,
whether as a result of new information, future events or
otherwise.
SOURCE Brookfield Infrastructure Partners