Brookfield Infrastructure - CEO, Sam Pollock
CEO, Sam Pollock
Source: Wall Street Journal
  • Brookfield Infrastructure (BIP.UN) has raised approximately C$266.27 million in gross proceeds, as part of its inaugural offer to promote green infrastructure initiatives
  • Brookfield’s first offering of its kind, the proceeds raised will directly fund green investment projects around the world, bolstering the company’s sustainable portfolio
  • Through the offer, Brookfield issued eight million series 13 units, which entitle buyers to a cumulative quarterly fixed distribution of 5.125 per cent per each year
  • Unallocated funds raised through the offer will also help repay the company’s unsecured revolving credit facility
  • Brookfield Infrastructure Partners (BIP.UN) is down 0.46 per cent and is trading at $62.13 per share

Brookfield Infrastructure (BIP.UN) has raised approximately C$266.27 million in gross proceeds, in its first offer aimed at promoting green initiatives.

The infrastructure arm of asset management giant Brookfield, the company is already a significant investor in global utilities, transport and energy services, with more than $78 billion in assets currently under management.

The eight million freshly issued Series 13 units contribute to the company’s Class A Preferred Limited Partnership Units. In the first offering of its kind from Brookfield Infrastructure, proceeds raised from the offering will directly fund green investment projects around the world.

The units entitle buyers to cumulative quarterly fixed distribution of 5.125 per cent per annum and will be listed on the company’s NYSE float under the ticker “BIP PR A”.

The new unit offer follows a strong performance by fellow Brookfield spin-off, Brookfield Renewable Partners (TSX:BEP.UN), which has staged an impressive recent market performance, moving up more than 75 per cent in the last six months.

Clearly, the Brookfield group have seen investors respond well to green, sustainable investments and are hoping to spread that interest across its other asset management firms.

Meanwhile, unallocated funds raised through the offer will help repay the company’s unsecured revolving credit facility.

Sam Pollock, CEO of Brookfield Infrastructure Partners commented on the new share offer and its considerable uptake by investors.

“We are pleased to issue these inaugural green preferred units and further enhance our commitment to sustainable investment practices. These practices are integrated into all aspects of our business, and this issuance further demonstrates the market’s support for our approach,” he said.

Brookfield Infrastructure Partners (BIP.UN) is down 0.46 per cent and is trading at $62.13 per share at 12:18pm EDT.

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