BIPC - Brookfield Infrastructure: Preferreds Offer 10% Yield To Probable Call

2024-03-29 23:05:55 ET

Summary

• In our last coverage, we suggested investors go long Brookfield Infrastructure Partners' preferred shares and those have had a nice rally.
• We look at another one from the BIP suite, one that has a high probability of being called.
• The high spread and floor yields are attractive features, which compelled us to go long.

In our last coverage of Brookfield Infrastructure Partners L.P. ( BIP ), ( BIPC ), we highlighted some interesting opportunities in the secondary securities. In the US, there are two preferred shares listed. Brookfield Infrastructure Partners L.P. 5.125 CL A PFD13 (NYSE: BIP.PR.A ) and Brookfield Infrastructure Partners L.P. 5.00% PFD A 14 (NYSE: BIP.PR.B ). The two preferreds were on a tear after that and did well for investors as they corrected their immense undervaluation....

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