- Brookfield Infrastructure Partners (BIP.UN), in alliance with its institutional partners, has signed an agreement with Intel Corporation
- The deal is to jointly fund Intel’s semiconductor fabrication facility located in Chandler, Arizona, supporting Intel’s build-out of U.S. semiconductor manufacturing capabilities
- Brookfield Infrastructure also secured financing to fund a significant portion of its arrangement with Intel
- Brookfield Infrastructure is a leading global infrastructure company
- Brookfield Infrastructure Partners L.P. opened the day’s trading at C$55.25 per share
Brookfield Infrastructure Partners (BIP.UN), in alliance with its institutional partners, has signed an agreement with Intel Corporation.
The agreement is to jointly fund Intel’s under-construction semiconductor fabrication facility located in Chandler, Arizona.
The arrangement supports Intel’s continued build-out of U.S. semiconductor manufacturing capabilities.
It also highlights Brookfield Infrastructure’s important role in partnering with leading companies like Intel to onshore part of the digital backbone of the global economy.
Brookfield Infrastructure is investing up to $15 billion for a 49 per cent stake in Intel’s manufacturing expansion at its Ocotillo campus in Chandler, Arizona. Intel will have a 51-per-cent stake in the facility.
This multi-year capital expansion project will replenish BIP’s existing backlog of capital projects that near completion this year, including the Heartland Petrochemical Complex and the second phase of our build-out of electricity transmission lines in Brazil.
Concurrent with the signing of the agreement, Brookfield Infrastructure secured financing to fund a significant portion of its arrangement with Intel.
BIP’s equity portion for this investment will be phased over the construction period and is anticipated to total $500 to $750 million.
Funding is expected to be sourced primarily from retained operating cash flow and proceeds from the company’s capital recycling program, with the majority funded closer to the commissioning of the facility.
Closing of the transaction is targeted for the end of 2022, subject to customary closing conditions.
Brookfield Infrastructure is a leading global infrastructure company that owns and operates high-quality, long-life assets in the utilities, transport, midstream and data sectors across North and South America, Asia Pacific and Europe.
Brookfield Infrastructure Partners L.P. opened the day’s trading at C$55.25 per share.
