Brookfield Infrastructure also announced that the TSX accepted a notice filed by Brookfield Infrastructure of its intention to amend its existing NCIB to permit the purchase of Units through the facilities of designated exchanges and alternative trading systems in addition to the facilities of the TSX and, in the case of the LP Units, the New York Stock Exchange.
Brookfield Infrastructure believes that in the event that the Units trade in a price range that does not fully reflect their value, the acquisition of Units may represent an attractive use of available funds. Under the NCIB, which commenced on November 12, 2018, Brookfield Infrastructure may repurchase up to 5% of its issued and outstanding LP Units, or 13,843,928 LP Units calculated as at October 31, 2018. There are currently six series of Preferred Units outstanding. Under the NCIB, Brookfield Infrastructure is authorized to repurchase a total of up to 10% of the total public float of each series of the Preferred Units as follows:
| Series | Ticker | Issued and outstanding units1 | Public float1 | Maximum number of units subject to purchase |
| Series 1 | BIP.PR.A | 5,000,000 | 5,000,000 | 500,000 |
| Series 3 | BIP.PR.B | 5,000,000 | 5,000,000 | 500,000 |
| Series 5 | BIP.PR.C | 10,000,000 | 10,000,000 | 1,000,000 |
| Series 7 | BIP.PR.D | 12,000,000 | 12,000,000 | 1,200,000 |
| Series 9 | BIP.PR.E | 8,000,000 | 8,000,000 | 800,000 |
| Series 11 | BIP.PR.F | 10,000,000 | 10,000,000 | 1,000,000 |
| 1. Calculated as at October 31, 2018. | ||||
Repurchases will terminate on November 11, 2019, or earlier should Brookfield Infrastructure complete its repurchases prior to such date. All Units acquired under the NCIB will be cancelled.
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
Brookfield Infrastructure is the flagship listed infrastructure company of Brookfield Asset Management, a global alternative asset manager with over
For more information, please contact:
| Media: Claire Holland Vice President, Communications Tel: (416) 369-8236 Email: [email protected] | Investors: Melissa Low Vice President, Investor Relations Tel: (416) 956-5239 Email: [email protected] |
Note: This news release contains forward-looking statements and information within the meaning of applicable securities laws. The words “believes,” “may” 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 potential future purchases by Brookfield Infrastructure of its Units pursuant to its normal course issuer bid. 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 include: general economic conditions; interest rate changes; availability of equity and debt financing; the performance of the Units or the stock exchanges generally; and other risks and factors described in the documents filed by Brookfield Infrastructure with securities regulators in
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