Brookfield Infrastructure Partners L.P. has announced:
that it intends to redeem all of its outstanding Cumulative Class A Preferred Limited Partnership Units, Series 1 (the “Series 1 Preferred Units”) (TSX: BIP.PR.A) for cash on June 30, 2025. The redemption price for each Series 1 Preferred Unit will be C$25.00. Holders of Series 1 Preferred Units of record as of May 30, 2025 will receive the previously declared final quarterly distribution of C$0.248375 per Series 1 Preferred Unit.
BIP.PR.A is a FixedReset, 4.50%+356, that commenced trading 2015-3-12 after being announced 2015-3-4. The issue reset to 3.974% effective 2020-7-1 and there was no conversion. It is tracked by HIMIPref™ and is assigned to the FixedResets (Discount) subindex.
Note that the tax treatment of distributions on BIP.PR.A are complex and change annually.