Brookfield Infrastructure has announced:
that after having taken into account all election notices received by the March 16, 2023 deadline for the reclassification of its Cumulative Class A Preferred Limited Partnership Units, Series 9 (the “Series 9 Units”) (TSX: BIP.PR.E) into Cumulative Class A Preferred Limited Partnership Units, Series 10 (the “Series 10 Units”), it has determined that there will be no reclassification of Series 9 Units into Series 10 Units, and holders of Series 9 Units will retain their Series 9 Units.
There were 18,000 Series 9 Units tendered for reclassification, which is less than the 1,000,000 units required to give effect to reclassifications of Series 9 Units into Series 10 Units.
BIP.PR.E was issued as a FixedReset, 5.00%+300M500, ROC, that commenced trading 2018-1-23 after being announced 2018-1-15. The issue will reset to 6.642% effective 2023-4-1. It is tracked by HIMIPref™ and has been assigned to the FixedResets (Discount) subindex on the basis of its P-2(low) rating from S&P (it is not rated by DBRS).
This entry was posted on Thursday, March 30th, 2023 at 6:28 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed.
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BIP.PR.E : No Conversion to FloatingReset
Brookfield Infrastructure has announced:
BIP.PR.E was issued as a FixedReset, 5.00%+300M500, ROC, that commenced trading 2018-1-23 after being announced 2018-1-15. The issue will reset to 6.642% effective 2023-4-1. It is tracked by HIMIPref™ and has been assigned to the FixedResets (Discount) subindex on the basis of its P-2(low) rating from S&P (it is not rated by DBRS).
This entry was posted on Thursday, March 30th, 2023 at 6:28 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.