Brief: Brookfield Infrastructure Signs Definitive Agreement With Intel

Brookfield Infrastructure

23/08/2022 12:44

Aug 23 (Reuters) - Brookfield Infrastructure Partners LP
 BIP.N :
    * BROOKFIELD INFRASTRUCTURE SIGNS DEFINITIVE AGREEMENT WITH
INTEL
    * BROOKFIELD INFRASTRUCTURE CORP - DEFINITIVE AGREEMENT WITH
INTEL
CORPORATION ("INTEL") TO JOINTLY FUND INTEL'S UNDER-CONSTRUCTION
SEMICONDUCTOR FABRICATION FACILITY
    * BROOKFIELD INFRASTRUCTURE - BROOKFIELD INFRASTRUCTURE
SECURED
BINDING NON-RECOURSE FINANCING TO FUND A SIGNIFICANT PORTION OF
ITS CAPITAL INVESTMENT
    * BROOKFIELD INFRASTRUCTURE CORP - BIP'S EQUITY PORTION FOR
INVESTMENT WILL BE PHASED OVER DURATION OF CONSTRUCTION PERIOD
    * BROOKFIELD INFRASTRUCTURE CORP - INVESTING UP TO $15
BILLION FOR
49% STAKE IN INTEL'S MANUFACTURING EXPANSION AT ITS OCOTILLO
CAMPUS IN CHANDLER, ARIZONA
    * BROOKFIELD INFRASTRUCTURE - FUNDING IS EXPECTED TO BE
SOURCED
PRIMARILY FROM RETAINED OPERATING CASH FLOW AND PROCEEDS FROM
CAPITAL RECYCLING PROGRAM
    * BROOKFIELD INFRASTRUCTURE CORP - BROOKFIELD INFRASTRUCTURE
IS
INVESTING UP TO $15 BILLION FOR A 49% STAKE IN INTEL'S
MANUFACTURING EXPANSION
    * BROOKFIELD INFRASTRUCTURE CORP - INTEL HAVING A 51% STAKE
IN
ARRANGEMENT
    * BROOKFIELD INFRASTRUCTURE CORP - CLOSING OF TRANSACTION IS
TARGETED FOR END OF 2022
    * BROOKFIELD INFRASTRUCTURE - EQUITY PORTION FOR INVESTMENT
TO BE
PHASED OVER DURATION OF CONSTRUCTION PERIOD, ANTICIPATED TO BE
ABOUT $500 TO $750 MILLION

Source text for Eikon:  ID:nGNX9j8Kt6 
Further company coverage:  BIP.N 

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