Brookfield Infrastructure unitholders may convert series 11 for series 12

Chicago, Dec. 6 – Brookfield Infrastructure Partners LP unitholders of series 11 cumulative class A preferred limited partnership units have until 5 p.m. ET on Dec. 18 to decide whether they want to reclassify all or part of their holdings on a one-for-one basis into series 12 units, according to a press release.

The effective date would be Dec. 31.

The reset distribution rate on the series 11 units is 6.446% for five years starting Jan. 1.

The quarterly floating-rate distributions on the series 12 units accrue at the three-year Canadian Treasury plus 292 basis point, currently at 7.962% on an annualized basis.

After any reclassifications, there needs to be at least 1 million units of either series outstanding.

There are currently 9,936,190 series 11 units outstanding.

Brookfield Infrastructure is a Toronto-based global infrastructure company.

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