04:38 PM EDT, 05/31/2024 (MT Newswires) -- Brookfield Infrastructure Partners (BIP.UN, BIP) on Friday the closed of a public offering of US$150 million of fixed-rate subordinated notes due May 31, 2084.

The notes, which have a coupon of 7.25%, will be listed on the New York Stock Exchange under the symbol "BIPJ".

Brookfield granted the underwriters an over-allotment option, exercisable in whole or in part for a period of 30 days from the date of the pricing of the offering, to purchase up to an additional US$22.5-million principal amount of notes.

Brookfield Infrastructure intends to use the net proceeds of the offering to refinance existing indebtedness and for general corporate purposes.

The notes were issued by Brookfield Infrastructure Finance ULC, an indirect wholly-owned subsidiary of Brookfield Infrastructure, and are guaranteed on a subordinated basis by Brookfield Infrastructure and certain of its other subsidiaries.