Brookfield Asset Management invests to maintain its 30% holdings
By Devika Patel
Knoxville, Tenn., Oct. 19 - Brookfield Infrastructure Partners LP priced and increased a private placement of units to $171.52 million from $150 million. The deal was announced on Tuesday, and Brookfield Asset Management Inc. is the investor, purchasing units to maintain its 30% interest in the company.
The company will sell 7,218,643 partnership units at $23.76 per unit, which is a 6.75% discount to the closing share price on Oct. 18, $25.48.
Settlement is expected on Oct. 26.
The public offering is being conducted by Credit Suisse, RBC Capital Markets, Citigroup and HSBC.
Proceeds will be used to acquire interests in two Chilean toll roads, for growth capital expenditures at the company's Australian railroad and to reduce debt under its credit facility.
The asset-management company is based in Hamilton, Bermuda.
| Issuer: | Brookfield Infrastructure Partners LP
|
| Issue: | Limited partnership units
|
| Amount: | $171,514,958
|
| Units: | 7,218,643
|
| Price: | $23.76
|
| Warrants: | No
|
| Announcement date: | Oct. 18
|
| Pricing date: | Oct. 19
|
| Upsized: | Oct. 19
|
| Settlement date: | Oct. 26
|
| Stock symbol: | NYSE: BIP
|
| Stock price: | $25.48 at close Oct. 18
|
| Market capitalization: | $3.95 billion
|
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