Bulletin de la Bourse
Canadian Investment Grade Preferred Share Fund (P2L) (RIGP.UN) inscrit à la Bourse de Toronto
Issuer: Canadian Investment Grade Preferred Share Fund (P2L) (the "Fund")
Security | Symbol | CUSIP | Issued and Outstanding Securities | Reserved Securities | Issue Price |
---|---|---|---|---|---|
Class T units (the "Units") |
RIGP.UN | 136188 11 7 | 4,000,000 | 624,000 | $25.00 |
Listing category: | Non-Corporate |
Trading currency: | CDN$ |
Transaction: | Initial public offering of Units (the "Offering") |
Listing date: | December 16, 2016 (as at 5:01 pm) in anticipation of closing of the Offering. |
Anticipated closing date: | December 19, 2016 |
Posted for trading date: | December 19, 2016 (at the opening) subject to confirmation of closing of the Offering. |
Other market(s): | None |
Designated market maker: | National Bank Financial Inc. |
Security ownership registration: | CDS book-entry system |
Investor relations: | Dan Rubin (416) 583-3853 danr@purposeinvest.com - OR – Scott Bartholomew Chief Financial Officer (416) 583-3857 scottb@purposeinvest.com |
Incorporation: | An investment fund established as a trust under the laws of the Province of Ontario pursuant to a declaration of trust dated as of November 28, 2016. |
Manager and Trustee: | Redwood Asset Management Inc. (the "Manager") |
Fiscal year end: | December 31 |
Nature of business: | The Fund's investment objectives are to (i) maximize total return to Unitholders over time; and (ii) provide holders of Units with monthly cash distributions by investing in an actively managed portfolio comprised primarily of preferred shares of Canadian issuers. |
Transfer agent and registrar: | TSX Trust Company at its principal office in Toronto. |
Conversion of Class A Units into Class T Units: | A holder of Class A Units may convert Class A Units into Class T Units on a weekly basis in accordance with the Declaration of Trust and it is expected that liquidity for the Class A Units will be primarily obtained by means of conversion into Class T Units and the sale of those Class T Units. Class A Units may be converted in any week on the first Business Day of such week by delivering a notice and surrendering such Class A Units by 3:00 p.m. (Toronto time) at least five Business Days prior to the relevant Conversion Date. Class A Units will be automatically converted into Class T Units on the 32-month anniversary of the Closing Date, with no Early Exchange Fee. Class A Units will be automatically converted into Class T Units following any early termination of the UTF Services Agreement. |
Distributions | The Fund intends to provide Unitholders with monthly cash distributions. The initial target distribution amount for the period ending December, 2017 is approximately $0.1146 per Unit per month (corresponding to an annualized distribution of $1.375 per Unit per annum and representing an annualized yield of 5.50% per annum based on the original subscription price). |
Sponsorship: | Not applicable |
Disclosure document: | Prospectus dated November 28, 2016 which is available at www.SEDAR.com. Capitalized terms not otherwise defined herein are as defined in the Disclosure document. |
Initial public offering: | Pursuant to the terms of the Prospectus, a maximum of 4,000,000 Class T Units and/or Class A Units (unlisted) at a price of $25.00 per Unit, are being offered to the public. |
TSX contact: | Julie Shin, Director, Listed Issuer Services, Toronto Stock Exchange. |