Brookfield unitholders tender below threshold for series 11 conversion

By William Gullotti

Buffalo, N.Y., Dec. 19 – Brookfield Infrastructure Partners LP holders of series 11 cumulative class A preferred limited partnership units will not reclassify any of their holdings into series 12 units, according to a 6-K filing with the Securities and Exchange Commission.

As previously reported, unitholders had until 5 p.m. ET on Dec. 18 to tender series 11 units for one-to-one reclassification as series 12 units.

There were 34,510 series 11 units tendered by the deadline, below the 1 million unit threshold required for reclassification.

As previously reported, there are currently 9,936,190 series 11 units outstanding. The distribution rate will reset Jan. 1 to 6.446% for five years.

Brookfield Infrastructure is a Toronto-based global infrastructure company.

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