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Financings

Brookfield Infrastructure Corporation Announces At-the-Money Equity Issuance Program

By The Northwire Desk — AI Analysis Nov 19, 2025 · 19:40 BIPC · 61.84 BROOKFIELD INFRASTRUCTURE CORP CL A EXCH
BIPC · Price

Executive Summary

  • Brookfield Infrastructure Corporation (BIPC) announced the establishment of an “at‑the‑market” (ATM) equity issuance program allowing up to US$400 million (or CAD equivalent) of Class A exchangeable subordinate voting shares to be sold from treasury.
  • Proceeds, if any, are intended primarily to fund repurchases of LP Units by Brookfield Infrastructure Partners L.P. under its normal‑course issuer bid (NCIB) program and for general corporate purposes.
  • The ATM Program is structured to be non‑dilutive overall, with a termination date of 28 Feb 2027 or earlier upon full sale or agreement termination.

Key Details

  • Program Size: Up to US$400 million (or CAD equivalent) of BIPC Class A exchangeable subordinate voting shares.
  • Share Exchange Feature: Each BIPC share is exchangeable at the holder’s option for one non‑voting limited partnership unit of Brookfield Infrastructure Partners L.P., or its cash equivalent, subject to adjustment for capital events.
  • Use of Proceeds:
  • Primarily to facilitate repurchases of LP Units by the Partnership under its NCIB program (subject to securities law compliance).
  • Remaining funds may be used for general corporate purposes.
  • Distribution Mechanics: Shares may be sold on an at‑the‑market basis through TSX, NYSE, or any other qualified marketplace in Canada or the United States; sale prices will vary by purchaser and over time.
  • Agents & Agreements:
  • Equity Distribution Agreement dated 19 Nov 2025 with Canadian Agents (RBC Dominion Securities Inc., Scotia Capital Inc.) and U.S. Agents (RBC Capital Markets, LLC; Scotia Capital (USA) Inc.).
  • Program termination triggers: (i) sale of all authorized shares, (ii) termination of the Distribution Agreement by either party, or (iii) 28 Feb 2027, whichever occurs first.
  • Regulatory Filings:
  • Canadian prospectus supplement filed across all provinces/territories on 19 Nov 2025, supplementing the short‑form base shelf prospectus dated 29 Jan 2025.
  • U.S. prospectus supplement filed as part of Form F‑3 registration statement (originally filed 16 Apr 2024, amended multiple times, declared effective 24 Apr 2025).
  • Non‑Dilutive Expectation: The combined number of LP Units and BIPC shares is intended to remain generally unchanged, though temporary fluctuations may occur during the distribution period.

Notable Quotes

(No direct CEO/President quotes were included in the release.)

Read the original news release →

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