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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Brookfield Infrastructure Partners LP | NYSE:BIP | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.73 | 2.49% | 30.01 | 30.24 | 29.36 | 29.51 | 560,029 | 01:00:00 |
Filed pursuant to Rule 433
September 14, 2020
Supplementing the
Preliminary Prospectus Supplement Dated September 14, 2020
(To Prospectus dated June 21, 2019)
Registration No. 333-232256
Brookfield Infrastructure Partners L.P.
Pricing Term Sheet
8,000,000 5.125% Class A Preferred Limited
Partnership Units, Series 13
September 14, 2020
The information in this pricing term sheet relates to Brookfield Infrastructure Partners L.P.’s offering of its 5.125% Class A Preferred Limited Partnership Units, Series 13 (the “Offering”) and should be read together with the preliminary prospectus supplement dated September 14, 2020 relating to the Offering (the “Preliminary Prospectus Supplement”), including the documents incorporated by reference therein, and the base prospectus dated June 21, 2019, filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended. The information in this communication supersedes the information in the Preliminary Prospectus Supplement and the accompanying base prospectus to the extent inconsistent with the information in the Preliminary Prospectus Supplement and the accompanying base prospectus. Terms used herein but not defined herein shall have the meanings as set forth in the Preliminary Prospectus Supplement. All references to dollar amounts are references to U.S. dollars.
Issuer: | Brookfield Infrastructure Partners L.P. (“BIP” or the “Partnership”) | |
Security: | 5.125% Class A Preferred Limited Partnership Units, Series 13 (the “Units”) | |
Size: | $200,000,000 (8,000,000 Units (“Issued Units”)) | |
Liquidation Preference: | $25.00 per Unit | |
Maturity: | Perpetual (unless redeemed by the Partnership (i) prior to October 15, 2025, at the Partnership’s option, in connection with a Ratings Event; (ii) on or after October 15, 2025, at the Partnership’s option; and (iii) at any time, in connection with a Change in Tax Law) | |
Distribution Rate: | At a rate per annum equal to 5.125% ($1.28125 per unit) only when, as, and if declared. Distributions on the Units are cumulative | |
Distribution Payment Dates: | The fifteenth day of March, June, September and December of each year (or the immediately succeeding Business Day), with the first distribution payable, if declared, on December 15, 2020 | |
Pro-rated Initial Distribution: | $0.29896 per Unit |
Anticipated Rating*: | BBB- (Stable) (S&P) | |
Joint Book-Running Managers: |
Morgan Stanley & Co. LLC
BofA Securities, Inc. J.P. Morgan Securities LLC RBC Capital Markets, LLC Wells Fargo Securities, LLC |
|
Co-Manager: | TD Securities (USA) LLC (together with the Joint Book-Running Managers, the “Underwriters”) |
* | Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to review, revision, suspension, reduction or withdrawal at any time by the assigning rating agency. |
The Partnership has filed a registration statement (including a prospectus and a prospectus supplement) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus and prospectus supplement in that registration statement and other documents the Partnership has filed with the SEC for more complete information about the Partnership and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus and prospectus supplement if you request it by calling Morgan Stanley & Co. LLC toll free at 1-866-718-1649, BofA Securities, Inc. toll-free at 1-800-294-1322, J.P. Morgan Securities LLC collect at 1-212-834-4533, RBC Capital Markets, LLC toll-free at 1-866-375-6829, Wells Fargo Securities, LLC toll-free at 1-800-645-3751 or TD Securities (USA) LLC at 1-855-495-9846.
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