Company: BIPC
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014377
Chunk: 96

Company: Brookfield Infrastructure Corp
Filing Date: 2025-03-24
Form: 20-F
Item: Item 5
Chunk 96
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 accrues interest at SOFR plus 475 basis points per annum until the maturity date. Interest accrued during the year ended December 31, 2024 was $10 million (December 31, 2023: $14 million).

On May 24, 2024, our company entered into an additional loan agreement (as lender) with Brookfield Infrastructure as part of a non-cash transaction for $24 million. The loan agreement was subsequently amended on December 27, 2024 to extend an additional $17 million to Brookfield Infrastructure. As of December 31, 2024, the balance outstanding on this loan was $43 million. The loan is presented as amounts due from Brookfield Infrastructure on the consolidated statements of financial position and accrues interest at SOFR plus 210 basis points per annum until May 24, 2026, and thereafter accrues interest at SOFR plus 475 basis points per annum until May 24, 2029, the maturity date. Interest accrued during the year ended December 31, 2024 was $1 million.

86 Brookfield Infrastructure Corporation

As at December 31, 2024, the balance outstanding on our deposit with Brookfield Infrastructure was $1,178 million (December 31, 2023: $1,038 million). As at December 31, 2024, the demand deposit payable to Brookfield Infrastructure was $nil (December 31, 2023: $26 million) following a non-cash settlement of $26 million on May 24, 2024. The deposit arrangements accrue interest at 0.2% per annum. During the year ended December 31, 2024, interest accrued on the deposit with Brookfield Infrastructure was $3 million (December 31, 2023: less than $1 million). During the year ended December 31, 2024, interest accrued on the demand deposit payable to Brookfield Infrastructure was $nil (December 31, 2023: less than $1 million).

On May 24, 2024, our company entered into loan agreements with Brookfield Infrastructure as part of a non-cash transaction for total cumulative proceeds of $100 million. The loans are presented as loans payable to Brookfield Infrastructure on the consolidated statements of financial position and accrue interest at SOFR plus 210 basis points per annum until May 24, 2026, and thereafter accrue interest at SOFR plus 475 basis points per annum until May 24