Brookfield Infrastructure Announces Results of Conversion of Its Series 1 Senior Preferred Shares
Brookfield Infrastructure (NYSE: BIP; TSX: BIP.UN) announced that there will be no conversion of BIP Investment ’s Senior Preferred Shares, Series 1 into Series 2 Shares due to insufficient shares tendered for conversion. Holders of Series 1 Shares will retain their shares.
03/19/2024 - 04:30 PM
BROOKFIELD, NEWS, March 19, 2024 (GLOBE NEWSWIRE) -- Brookfield Infrastructure (NYSE: BIP; TSX: BIP.UN) today announced that after having taken into account all conversion notices received by the March 18, 2024 deadline for the conversion of BIP Investment Corporation’s (“BIPIC”) Senior Preferred Shares, Series 1 (“Series 1 Shares”) (TSX: BIK.PR.A) into Senior Preferred Shares, Series 2 (“Series 2 Shares”), BIPIC has determined that there will be no conversion of Series 1 Shares into Series 2 Shares, and holders of Series 1 Shares will retain their Series 1 Shares.
There were 1,720 Series 1 Shares tendered for conversion, which is less than the 500,000 shares required to give effect to conversions of Series 1 Shares into Series 2 Shares.
About Brookfield Infrastructure
Brookfield Infrastructure is a leading global infrastructure company that owns and operates high-quality, long-life assets in the utilities, transport, midstream and data sectors across the Americas, Asia Pacific and Europe. We are focused on assets that have contracted and regulated revenues that generate predictable and stable cash flows. Investors can access its portfolio either through Brookfield Infrastructure Partners L.P. (NYSE: BIP; TSX: BIP.UN), a Bermuda-based limited partnership, or Brookfield Infrastructure Corporation (NYSE, TSX: BIPC), a Canadian corporation. Further information is available at https://bip.brookfield.com
Brookfield Infrastructure is the flagship listed infrastructure company of Brookfield Asset Management, a global alternative asset manager with over US$900 billion of assets under management. For more information, go to https://brookfield.com
Contact Information
There were 1,720 Series 1 Shares tendered for conversion.
There will be no conversion due to less than the required 500,000 shares being tendered for conversion.
Holders of Series 1 Shares will retain their Series 1 Shares.
Brookfield Infrastructure Partners L.P
BIP Rankings
N/A Ranked by Stock Gains
BIP Stock Data
Industry
Hydroelectric Power Generation
Sector
Utilities
Tags
Utilities, Electric Utilities, Alternative Power Generation, Hydroelectric Power Generation
Country
Bermuda
City
73 Front Street
About BIP
brookfield office properties is a global office property company that owns, manages, and develops premier assets in the world's most dynamic and resilient markets. the company's signature properties define the skylines of dynamic cities around the globe including new york, washington, d.c., houston, los angeles, toronto, calgary, london, sydney and perth. brookfield office properties is a subsidiary of brookfield property partners, a publicly traded bermuda-based partnership listed under the ticker symbol bpy on the new york stock exchange and bpy.un on the toronto stock exchange. from brookfield places in new york city, toronto and perth, to bankers hall in calgary and bank of america plaza in los angeles, brookfield office properties' distinguished portfolio attracts major financial, energy, government and professional services organizations which have high credit ratings and maintain long-term leases. the company’s performance through the years is distinguished by strong, consiste
