On July 27, 2023, Brookfield Infrastructure Finance ULC and its affiliates completed a C$200 million public offering of 5.950% Medium Term Notes, Series 14, due July 27, 2053. The Series 14 Notes were priced at C$998.89 per C$1,000 principal amount, resulting in gross proceeds of C$199.778 million and net proceeds of approximately C$198.778 million after deducting agents' commissions. The effective yield to maturity was 5.958%. The offering was conducted under a base shelf prospectus dated January 10, 2023, as supplemented on July 25, 2023.

The proceeds will be used by Brookfield Infrastructure Finance ULC to refinance existing indebtedness. The Series 14 Notes are joint and several obligations of four Brookfield entities and are rated “BBB+” by both S&P and Fitch. Interest is payable semi-annually on January 27 and July 27 each year, commencing January 27, 2024.

The notes are redeemable at the issuer's option at the greater of par or a yield-based Canada Yield Price prior to January 27, 2053, and at par thereafter. The offering was led by a syndicate of agents including Scotia Capital Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., CIBC World Markets Inc., and others.

Legal counsel to the issuers was Torys LLP, while Goodmans LLP acted as Canadian counsel to the agents.