XML 33 R18.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

BORROWINGS | 6 Months Ended
--- | ---
Jun. 30, 2024
Financial Instruments [Abstract] |
BORROWINGS | BORROWINGS a) Corporate Borrowings Brookfield Infrastructure has a $2.2 billion senior unsecured revolving credit facility used for general working capital purposes including acquisitions. The $2.2 billion is available on a revolving basis for the full term of the facility. All amounts outstanding under this facility will be repayable on June 29, 2029. All obligations of Brookfield Infrastructure under the facility are guaranteed by our partnership. Loans under this facility accrue interest at a floating rate based on SOFR plus 1.2%. Brookfield Infrastructure is required to pay an unused commitment fee under the facility of 13 basis points per annum. As at June 30, 2024, draws on the credit facility were $865 million (December 31, 2023: $222 million) and $8 million of letters of credit were issued (December 31, 2023: $8 million).
| Maturity |  | Annual Rate |  | Currency |  | As of
June 30, 2024 |  | December 31, 2023
Corporate revolving credit facility | June 29, 2029 |  | SOFR plus 1.2% |  | US$ |  | $ | 865 |  |  | $ | 222 |
Commercial paper(1) | August 2, 2024 |  | 6.0% |  | US$ |  | 986 |  |  | 989 |
Current: |  |  |  |  |  |  |  |  |
Medium-term notes: |  |  |  |  |  |  |  |  |
Public - Canadian | February 22, 2024 |  | 3.3% |  | C$ |  | — |  |  | 226 |
Public - Canadian | February 22, 2024 |  | 3.3% |  | C$ |  | — |  |  | 302 |
Non-current: |  |  |  |  |  |  |  |  |
Medium-term notes: |  |  |  |  |  |  |  |  |
Public - Canadian | November 14, 2027 |  | 5.6% |  | C$ |  | 329 |  |  | 340 |
Public - Canadian | September 11, 2028 |  | 4.2% |  | C$ |  | 512 |  |  | 528 |
Public - Canadian | October 9, 2029 |  | 3.4% |  | C$ |  | 512 |  |  | 528 |
Public - Canadian | July 27, 2030 |  | 5.7% |  | C$ |  | 366 |  |  | 377 |
Public - Canadian | September 1, 2032 |  | 2.9% |  | C$ |  | 366 |  |  | 377 |
Public - Canadian | February 14, 2033 |  | 6.0% |  | C$ |  | 183 |  |  | 189 |
Public - Canadian | April 25, 2034 |  | 5.4% |  | C$ |  | 292 |  |  | 302 |
Public - Canadian | April 25, 2052 |  | 5.8% |  | C$ |  | 146 |  |  | 151 |
Public - Canadian | July 27, 2053 |  | 6.0% |  | C$ |  | 146 |  |  | 151 |
Subordinated notes: |  |  |  |  |  |  |  |  |
Public – United States | May 24, 2081 |  | 5.0% |  | US$ |  | 250 |  |  | 250 |
Public – United States | May 31, 2084 |  | 7.3% |  | US$ |  | 158 |  |  | — |
|  |  |  |  |  |  | 5,111 |  |  | 4,932 |
Deferred financing costs and other |  |  |  |  |  |  | (27) |  |  | (21) |
Total |  |  |  |  |  |  | $ | 5,084 |  |  | $ | 4,911 |
1.Maturity and annual rate associated with our commercial paper program represents a weighted average of all outstanding obligations as of June 30, 2024. On May 31, 2024 and June 5, 2024 Brookfield Infrastructure Finance ULC issued, in aggregate, $158 million of subordinated notes maturing May 31, 2084, with a coupon of 7.3%. On February 22, 2024, Brookfield Infrastructure Finance ULC repaid all medium-term notes maturing February 22, 2024 for $531 million. Brookfield Infrastructure has entered into a $1 billion revolving credit facility with Brookfield to provide additional liquidity for general corporate purposes and capital expenditures, if required. The revolving credit facility automatically renews for eight consecutive one-year terms, which would result in the facility ultimately maturing in February 2027. Brookfield has the option to terminate the agreement prior to February 8 each year by providing Brookfield Infrastructure with a written notice. Loans under this facility accrue interest on SOFR plus 1.9% and no commitment fees are incurred for any undrawn balance. As of June 30, 2024, there were no (December 31, 2023: $nil) borrowings outstanding. On July 27, 2023, Brookfield Infrastructure Finance ULC issued C$700 million of medium-term notes in two tranches: C$500 million maturing on July 27, 2030 with a coupon of 5.7% per annum and C$200 million maturing on July 27, 2053 with a coupon of 6.0% per annum. The increase in corporate borrowings during the six-month period ended June 30, 2024 is primarily attributable to net draws on our corporate credit facility of $643 million and the issuance of $158 million of subordinated notes, partially offset by the repayment of medium-term notes for $531 million, net commercial paper redemptions of $3 million, and the impact of foreign exchange. b) Non-Recourse Borrowings
| As of
US$ MILLIONS | June 30, 2024 |  | December 31, 2023
Current | $ | 2,643 |  |  | $ | 4,442 |
Non-current | 42,032 |  |  | 36,462 |
Total | $ | 44,675 |  |  | $ | 40,904 |
Non-recourse borrowings increased during the six-month period ended June 30, 2024 due to acquisition debt at our North American retail colocation data center operation, increased borrowings at our Brazilian regulated gas transmission operation and North American rail operations, partially offset by the impacts of foreign exchange.

X
- Definition Financial Instruments [Abstract] + References No definition available. + Details
Name: | bip_FinancialInstrumentsAbstract
Namespace Prefix: | bip_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of borrowings. [Refer: Borrowings] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23 + Details
Name: | ifrs-full_DisclosureOfBorrowingsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration