Authorization

Brookfield Infrastructure to Issue $400 Million of Medium Term Notes

All amounts in Canadian dollarsNOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION TO THE UNITED STATES
BROOKFIELD, NEWS, April 03, 2020 (GLOBE NEWSWIRE) -- Brookfield Infrastructure (NYSE: BIP; TSX: BIP.UN) today announced that it has agreed to sell $400 million aggregate principal amount of medium term notes (the a??Additional Notesa??), comprised of $200 million aggregate principal amount of a re-opening of its 4.193% medium term notes, Series 6 (the a??Additional Series 6 Notesa??), due September 11, 2028 and $200 million aggregate principal amount of a re-opening of its 3.41% medium term notes, Series 7 (the a??Additional Series 7 Notesa??), due October 9, 2029. A subsidiary of Brookfield Infrastructure, Brookfield Infrastructure Finance ULC will be the recipient of the net proceeds and have primary responsibility for the payment of principal and interest on the Additional Notes. The Additional Notes will be fully and unconditionally guaranteed by Brookfield Infrastructure and certain of its key holding subsidiaries.The terms of the Additional Series 6 Notes and Additional Series 7 Notes, other than the issue date and the price to the public, will be identical to the terms of the C$500 million aggregate principal amount of 4.193% medium term notes, Series 6, due September 11, 2028 and the C$500 million aggregate principal amount of 3.41% medium term notes, Series 7, due October 9, 2029 that were issued by Brookfield Infrastructure in September 2018 and October 2019, respectively. The Additional Series 6 Notes and Additional Series 7 Notes will be issued at a price of $100.552 and $94.244, respectively, plus accrued interest, with an effective yield of 4.113% and 4.149%, respectively, if held to maturity. An aggregate principal amount of $700 million of 4.193% medium term notes, Series 6, due September 11, 2028 and an aggregate principal amount of $700 million of 3.41% medium term notes, Series 7, due October 9, 2029 will be outstanding after giving effect to this offering.The Additional Notes will be issued pursuant to a base shelf prospectus dated November 23, 2018 and a related prospectus supplement and pricing supplements to be dated April 3, 2020. The issue is expected to close on or about April 7, 2020 subject to customary closing conditions. Brookfield Infrastructure intends to use the net proceeds from the sale of the Additional Notes to fund an active pipeline of investment opportunities and for general working capital purposes. The Additional Notes have been rated BBB+ by Standard & Poora??s Rating Services.
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