Brookfield Clarios plans raising debt for dividend

New debt: The traffic on Brooklyn Bridge Blvd in New York City. Clarios, which produces a range of items from low-voltage to vehicle and industrial products, says its batteries are used in one in three cars on the road globally. — AFP

NEW YORK: Clarios International Inc is considering taking on new debt in order to hand cash to its owners, including Brookfield Asset Management Ltd and Canadian pension fund Caisse de Depot et Placement du Quebec (CDPQ), according to people familiar with the matter.

The Wisconsin-based car battery maker is planning to raise several billion dollars for a so-called dividend recapitalisation, which could be one of the biggest over the past year, the people said.