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BIP Bermuda Holdings I Limited 5.125% Perpetual Subordinated Notes
Ticker Symbol: BIPI CUSIP: 05554M100 Exchange: NYSE
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QUANTUMONLINE.COM SECURITY DESCRIPTION: BIP Bermuda Holdings I Limited 5.125% Perpetual Subordinated Notes, guaranteed by Brookfield Infrastructure Partners L.P. (NYSE: BIP) (See our definition of Guaranteed in our Glossary of Income Investing Terms for the technicalities of the guarantee), redeemable at the issuer's option on or after 01/21/2027 at $25 per note plus accrued and unpaid interest and with no stated maturity. Interest distributions of 5.125% per annum ($1.28 per annum or $0.32 per quarter) will be paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the record date that will be (_) (NOTE: the ex-dividend date is one business day prior to the record date). Dividends paid by this subordinated notes are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders (see page S-34 of the prospectus for further information). This security is possibly subject to an early call before 01/21/2027 at $25.00 (100%) of their principal amount plus accrued and unpaid interest within 90 days of a tax event; before 01/21/2027 at $25.50 (102%) of their principal amount plus accrued and unpaid interest within 180 days of the occurrence of a rating agency event (see prospectus for further information). This security was not rated by Moody’s and Rated BBB- by the S&P at the time of its IPO. The Notes are unsecured, subordinated obligations of the company and will rank junior to the company's senior debt, equally with all existing and future unsecured, subordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (BIP)
Notes: March 13, 2020 -- Brookfield Infrastructure Partners L.P. will have a planned special distribution, by the partnership to the holders of its non-voting limited partnership units, or units, of approximately 32.8 million class A exchangeable subordinate voting shares, of Brookfield Infrastructure Corporation. Holders of units as of March 20, 2020, the record date for the special distribution, will be entitled to receive one (1) exchangeable share for every nine (9) units held as of the record date, provided that the special distribution will be subject to any applicable withholding tax and no holder will be entitled to receive any fractional interests in the exchangeable shares. Each exchangeable share will be structured with the intention of providing an economic return equivalent to one unit (subject to adjustment to reflect certain capital events). Each exchangeable share will be exchangeable at the option of the holder for one unit (subject to adjustment to reflect certain capital events) or its cash equivalent (the form of payment to be determined at the election of our company). These new shares are expected to start trading on the NYSE when issued on 03/19/2020 and issued on 03/31/2020 under ticker BIPC
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IPO - 1/12/2022 - 12.00 Million Notes @ $25.00/note.
Link to IPO Prospectus
Market Value $ Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Foreign Address and Phone Numbers |
| Address: 73 Front Street, Hamilton, HM 12, Bermuda |
| Main Phone Number |
441-294-3309 |
| Fax Number |
416-365-9642 |
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Inv Rel Phone Number
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416-363-9491 |
| Address and Phone Numbers |
| U.S. Representative |
N.A. |
| Address: |
| Main Phone Number |
Not Available |
| Fax Number |
Not Available |
| Investor Relations
Rene Lubianski
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416-956-5129
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| Toll Free Phone Number |
866-989-0311 |
| CEO - Sam Pollock |
CFO - Hadley Peer Marshall |
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