Brookfield Infrastructure Finance has announced a new issue of baby bonds (subordinated notes).
These notes can have their interest payments suspended for 5 years without a default being declared.
The issue has a early call date started in 2029.
The company has a number of issues (preferreds and baby bonds) already outstanding which can be seen here.
The preliminary prospectus can be read here.
Thanks to J for catching this and If you Prefer for tagging on.
$1000 in bit coin with Satoshi Nakamoto would be worth 68 million. So there’s that……
One funny aspect is……many bit coin detractors focus on all the electricity needed to mine it. Very similar to what’s needed for AI. With little if any complaints!!
Can you post a pricing table for CFG-H?
Offering went off like burnt toast
I see the completed prospectus, but havent seen any trading.
https://www.sec.gov/Archives/edgar/data/1406234/000110465924066239/tm2415872d1_fwp.htm
Anyone buying a sub note should obviously have no illusion its anything but a preferred stock masquerading as debt. But you gotta love BIP for at least stating if a bankruptcy reorganization event occurs it automatically is converted into a such said preferred.
If you prefer, with the current talk of these funds getting into funny money, and I don’t mean the dollar but Bit Coin I have no interest in trading my hard earned savings for wampum. Some shiny beads and a promise to pay interest and capitol back after 60 yrs goes over with me like a lead balloon.
Charles, you have to remember to put it in its proper prospective. If you own any perpetual preferred stock of any type, you actually are owning something more longer duration than this is.
Grid, I have more trust in TY-P, GAM B, or SOCGP and I am willing to take a lower coupon knowing they have a longer track record.
I think you missed to post the pricing table for CFG-H?