Brookfield Infrastructure Partners LP (BIP) said Monday that it has agreed to issue 16.6 million units on a bought deal basis, to a syndicate of underwriters co-led by RBC Capital Markets, TD Securities Inc., Citigroup, BofA Merrill Lynch and HSBC at a price of $42.10 per unit for gross proceeds of $700 million.
Also, Brookfield Asset Management Inc. (BAM) and certain of its related entities will purchase 7.4 million redeemable partnership units of Brookfield Infrastructure’s holding limited partnership.
The aggregate gross proceeds of the offering and the concurrent private lacement will be $1.00 billion.
If the over-allotment option is exercised in full, the gross offering size would increase to $1.11 billion.
Brookfield Asset Management shares were flat in the after-hours session while Brookfield Infrastructure was 3.5% lower.