Company: BIPC
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014377
Chunk: 362

Company: Brookfield Infrastructure Corp
Filing Date: 2025-03-24
Form: 20-F
Item: Item 19
Chunk 362
---
, holders of class B shares have the right to redeem for cash in an amount equal to the market price of a unit. Due to this cash redemption feature, class B shares are classified as financial liabilities. However, class B shares, the most subordinated class of all common shares, meet certain qualifying criteria and are presented as equity instruments given the narrow scope presentation exceptions existing in IAS 32, Financial Instruments: Presentation(“ IAS 32”).

iii) Credit facilities

In connection with the Arrangement, our company, as borrower, entered into a credit agreement with Brookfield Infrastructure, as lender, pursuant to which Brookfield Infrastructure established a revolving credit facility in the aggregate principal amount of $ 150 ten-year one-year

Further details of the credit agreements with Brookfield Infrastructure are described in Note 23, Related Party Transactions.

iv) Other arrangements with Brookfield

Subsidiaries of BN provide management services to our company pursuant to the partnership’s existing Master Services Agreement. Please refer to Note 3(b), Material Accounting Policy Information, for further details. There will be no change in how the base management fee and incentive distribution fees are calculated, though our company is responsible for paying, or reimbursing the partnership for, our proportionate share of the total base management fee.

Further details of the Master Services Agreement are described in Note 23, Related Party Transactions.

Brookfield Infrastructure Corporation F-13

  BROOKFIELD INFRASTRUCTURE CORPORATION                                                      
  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS                                                 
  As of December 31, 2024 and 2023 and for the years ended December 31, 2024, 2023 and 2022  

c) Special Distribution of BIHC

On March 31, 2020, the partnership completed a special distribution (the “special distribution”) whereby limited partnership unitholders of the partnership as of March 20, 2020 (the “ Record Date”) received one nine

Immediately prior to the special distribution, a subsidiary of the partnership, Brookfield Infrastructure L. P. (“ Holding LP”), completed a distribution of the BIHC exchangeable shares to all the holders of its equity units (the “ Holding LP Distribution”). As a result of the Holding LP Distribution, (i) BN and its subsidiaries (other than entities within our group) received approximately 20.6 48.9 70.4 29.6 75.0

Upon completion of the special distribution. holders of BIHC exchange