{"id":42923,"date":"2022-01-21T22:39:16","date_gmt":"2022-01-22T03:39:16","guid":{"rendered":"http:\/\/prefblog.com\/?p=42923"},"modified":"2022-01-21T22:39:16","modified_gmt":"2022-01-22T03:39:16","slug":"bip-pr-d-to-be-redeemed","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=42923","title":{"rendered":"BIP.PR.D To Be Redeemed"},"content":{"rendered":"<p>Brookfield Infrastructure Partners L.P. <a href=\"https:\/\/bip.brookfield.com\/press-releases\/bip\/brookfield-infrastructure-completes-offering-300-million-perpetual-subordinated\">has announced<\/a> (emphasis added):<\/p>\n<blockquote><p>the closing of a public offering of $300 million of fixed rate perpetual subordinated notes (the \u201cNotes\u201d).<\/p>\n<p>The Notes have a fixed coupon of 5.125% and will be listed on the New York Stock Exchange under the symbol \u201cBIPI\u201d. <b>Brookfield Infrastructure intends to use the net proceeds of the offering for the redemption of its Class A Preferred Units, Series 7, which are redeemable by Brookfield Infrastructure on March 31, 2022, with the remainder to be used for working capital purposes.<\/b><\/p>\n<p>The Notes were issued by BIP Bermuda Holdings I Limited, an indirect wholly owned subsidiary of Brookfield Infrastructure, and are guaranteed on a subordinated basis by Brookfield Infrastructure and certain of its other subsidiaries.<\/p>\n<p>Wells Fargo Securities, LLC, BofA Securities, Inc., Morgan Stanley &#038; Co. LLC, RBC Capital Markets, LLC and Citigroup Global Markets Inc. acted as joint book-running managers for the offering.<\/p><\/blockquote>\n<p>BIP.PR.D is a FixedReset, 5.00%+378M500, ROC + Interest, that <a href=\"https:\/\/prefblog.com\/?p=34248\">commenced trading 2017-1-26<\/a> after being <a href=\"http:\/\/prefblog.com\/?p=34233\">announced 2017-1-19<\/a>. It is tracked by HIMIPref&trade; and is been assigned to the FixedReset (Premium) subindex.<\/p>\n<p>Thanks to Assiduous Reader <i>CanSiamCyp<\/i> for bringing this to my attention!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brookfield Infrastructure Partners L.P. has announced (emphasis added): the closing of a public offering of $300 million of fixed rate perpetual subordinated notes (the \u201cNotes\u201d). The Notes have a fixed coupon of 5.125% and will &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-42923","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/42923","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=42923"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/42923\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}