The Filer, Brookfield Infrastructure Partners L.P., applied for exemptive relief from various continuous disclosure, certification, insider reporting, audit committee, corporate governance, and short form prospectus requirements to accommodate the issuance of debt securities and preferred shares by its indirect subsidiaries.
The Filer could not rely on the existing exemption for credit support issuers because it only owned 71% of an intermediate holding entity.
The Ontario Securities Commission granted the requested relief subject to several conditions, including that the Filer continue to consolidate the holding entities in its financial statements and that the voting agreement giving the Filer control over the holding entity remains in force.