Company: BIP-PB
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014380
Chunk: 472

Company: Brookfield Infrastructure Partners L.P.
Filing Date: 2025-03-24
Form: 20-F
Item: Item 7
Chunk 472
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 terminate on March 31, 2030. As of the date hereof, no amounts have been drawn under these credit facilities. In addition, each such credit facility contemplates potential deposit arrangements pursuant to which the lender thereunder would, with the consent of a borrower, deposit funds on a demand basis to such borrower’s account at a reduced rate of interest.

In connection with the Arrangement, BIPC, as borrower, entered into a credit agreement with a subsidiary of our partnership, as lender, pursuant to which such subsidiary of our partnership established a revolving credit facility in the aggregate principal amount of $150,000,000 in favor of BIPC. The credit agreement has a ten-year term, subject to automatic one-year extensions occurring annually unless terminated by the lender.

The credit facilities are available in U. S. or Canadian dollars, and advances will be made by way of SOFR, base rate, Canadian Overnight Repo Rate Average or prime rate loans. Each of the credit facilities bears interest at the benchmark rate plus an applicable spread, in each case subject to adjustment from time to time as the parties may agree.

Promissory Notes and Demand Deposits

As partial consideration for the transfer of our Brazilian regulated gas transmission operation and U. K. regulated distribution operation to BIPC in connection with the special distribution, BIPC issued to Brookfield Infrastructure loans payable of approximately $1,042 million in the aggregate pursuant to an interest bearing promissory note issued by BUUK Bermuda Holdco Limited in favor of BIP (Barbados) Holdings II Limited and an interest bearing promissory note issued by BIPC in favor of Holding LP. These promissory notes were subsequently assigned to another subsidiary of our partnership.

As partial consideration for exchangeable shares issued during the year ended December 31, 2021, BIPC established a loan receivable of approximately $1,114 million with Brookfield Infrastructure pursuant to a demand deposit with Brookfield Infrastructure Holdings (Canada) Inc. in favor of BIPC.

BIPC and Brookfield Infrastructure agreed to settle the loan payable balance outstanding in 2021 under the interest bearing promissory note issued by BUUK Bermuda Holdco Limited in favor of BIP (Barbados) Holdings II Limited of $260 million in exchange for an equivalent demand loan payable issued by BIPC Bermuda Holdco Limited in favor of BIP Bermuda Holdings X Limited.

During the year ended December 31, 2024, BIPC and our partnership agreed to partially settle the loan receivable outstanding from Brookfield