Brookfield Infrastructure has announced that as a result of strong investor demand it has agreed to increase the size of the Equity Offering to 12 million L.P. units.

The L.P. units will be issued at a price of $45.00 each, on a bought deal basis, to a syndicate of underwriters, co-led by RBC Capital Markets, Credit Suisse, HSBC and TD Securities Inc., for gross proceeds of $540 million.

In addition, Brookfield Asset Management Inc. will purchase, directly or indirectly, about 8.1 million redeemable partnership units of Brookfield Infrastructure's holding limited partnership at the offering price (net of underwriting commissions) concurrent with the offering.

The aggregate gross proceeds of the offering and the placement of redeemable partnership units to Brookfield will be $890 million.

Brookfield Infrastructure has granted the underwriters an over-allotment option, exercisable in whole or in part for a period of 30 days following closing of the offering, to purchase up to an additional 1.8 million L.P. units at the offering price. If this option is exercised in full, the gross offering size would increase to $971 million.

Brookfield Infrastructure intends to use the net proceeds of the offering and the issuance of redeemable partnership units to Brookfield for investment opportunities, working capital and other general corporate purposes. Prior to being deployed for such purposes, a portion of the net proceeds will initially be used to repay amounts outstanding under Brookfield Infrastructure's revolving credit facilities.