Brookfield Infrastructure Partners LP | 5.00% Class A Preferred Limited Partnership Units, Series 14 (BIP.PRB)
Prospectus excerpt: We are offering 8,000,000 units of our 5.00% Class A Preferred Limited Partnership Units, Series 14, with a liquidation preference of $25.00 per unit (the "Series 14 Preferred Units"). As described under "Use of Proceeds" herein, we intend to allocate an amount equal to the net proceeds from this offering to the financing and/or refinancing of Eligible Green Projects (as defined herein), including the development and redevelopment of such projects. Distributions on the Series 14 Preferred Units are cumulative from the date of original issue and will be payable quarterly in arrears on the fifteenth day of March, June, September and December in each year, as and when declared by Brookfield Infrastructure Partners Limited, our general partner. The pro-rated initial distribution on the Series 14 Preferred Units offered hereby, if declared, will be payable on March 15, 2021 in an amount equal to approximately $0.18750 per Series 14 Preferred Unit. Distributions on the Series 14 Preferred Units will be payable out of amounts legally available therefor at a rate equal to 5.00% per annum of the $25.00 liquidation preference.
Brookfield Infrastructure Partners owns and operates assets in the utilities, transport, midstream and data sectors. Co.'s utilities segment is comprised of businesses from which it earns a return on a regulated or notionally stipulated asset base. These include regulated transmission (natural gas and electricity) and commercial and residential distribution (electricity, district energy and natural gas connections) operations. Co.'s transport segment is comprised of infrastructure assets that provide transportation, storage and handling services merchandise goods, commodities and passengers. This operating segment is comprised of businesses, such as Co.'s rail and toll road operations.