{"id":33444,"date":"2016-08-03T00:51:34","date_gmt":"2016-08-03T05:51:34","guid":{"rendered":"http:\/\/prefblog.com\/?p=33444"},"modified":"2016-08-03T00:51:34","modified_gmt":"2016-08-03T05:51:34","slug":"bip-pr-c-strong-on-excellent-volume","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=33444","title":{"rendered":"BIP.PR.C Strong On Excellent Volume"},"content":{"rendered":"<p> Brookfield Infrastructure <a href=\"http:\/\/brookfieldinfrastructure.com\/content\/2016_press_releases\/brookfield_infrastructure_completes_250000000_p-44334.html?US=N\">has announced<\/a>:<\/p>\n<blockquote><p> the completion of its previously announced issue of Cumulative Class A Preferred Limited Partnership Units, Series 5 (\u201cSeries 5 Preferred Units\u201d) in the amount of $250,000,000. The offering was underwritten by a syndicate led by TD Securities Inc., CIBC Capital Markets, RBC Capital Markets, and Scotiabank.<\/p>\n<p> Brookfield Infrastructure issued 10,000,000 Series 5 Preferred Units at a price of $25.00 per unit, for total gross proceeds of $250,000,000. Holders of the Series 5 Preferred Units will be entitled to receive a cumulative quarterly fixed distribution yielding 5.35% annually for the initial period ending September 30, 2021. Thereafter, the distribution rate will be reset every five years at a rate equal to the greater of: (i) the 5-year Government of Canada bond yield plus 4.64%, and (ii) 5.35%. The Series 5 Preferred Units will commence trading on the Toronto Stock Exchange this morning under the ticker symbol BIP.PR.C.<\/p><\/blockquote>\n<p>BIP.PR.C is a FixedReset 5.35%+464M535 issue <a href=\"http:\/\/prefblog.com\/?p=33400\">announced 2016-7-25<\/a>. It will be remembered that distributions from this issue are not Eligible Dividends, but will be a mixture of Return of Capital and Ordinary Income, in proportions that will change from year to year.<\/p>\n<p>The issue traded 1,330,574 shares today in a range of 25.31-45 before closing at 25.37-38, 10&#215;133.<\/p>\n<p>This issue will be tracked by HIMIPref\u2122 and has been assigned to the FixedReset subindex. Vital statistics are:<\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tr>\n<td>BIP.PR.C<\/td>\n<td>FixedReset<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2021-09-30<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.37<br \/>\nBid-YTW : 5.06 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Brookfield Infrastructure has announced: the completion of its previously announced issue of Cumulative Class A Preferred Limited Partnership Units, Series 5 (\u201cSeries 5 Preferred Units\u201d) in the amount of $250,000,000. The offering was underwritten by &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-33444","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/33444","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33444"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/33444\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}