Brookfield Global Listed Infrastructure Income Fund Inc. Announces Terms of Rights Offering
07 September 2013 - 6:41AM
Marketwired
Brookfield Global Listed Infrastructure Income Fund Inc. (the
"Fund") (NYSE:INF) today announced that its Board of Directors
approved the terms of a transferable rights offering which would
allow the Fund's record date common shareholders to purchase
additional shares of common stock.
The Board of Directors, based on the recommendations and
presentations of Brookfield Investment Management Inc., the Fund's
investment adviser (the "Adviser"), has determined that it is in
the best interest of the Fund and its shareholders to increase the
assets of the Fund available for investment and thereby to conduct
the rights offering. The Adviser believes that now may be an
opportune time to seek to take advantage of attractive investment
opportunities and to further diversify the Fund's portfolio in
global infrastructure securities, which may enable the Fund to
potentially enhance yield and capture net asset value ("NAV")
appreciation potential. Additionally, the rights offering seeks to
provide existing shareholders the opportunity to acquire additional
shares at a discount to the Fund's market price.
The record date of the rights offering is September 19, 2013.
The rights offering is expected to expire on October 18, 2013,
unless otherwise extended by the Fund (the "expiration date"). The
rights will trade on the New York Stock Exchange ("NYSE") under the
symbol "INF RT" until October 17, 2013, one business day prior to
the expiration date.
Subject to the registration statement for the offer becoming
effective under the Securities Act of 1933, the Fund will
distribute to common shareholders of record one right for each
common share held on the record date. This will allow common
shareholders to purchase one new common share for every three
rights held (1-for-3). Rights may be exercised only in multiples of
three, except that record date common shareholders who are issued
fewer than three rights will be entitled to subscribe for one
common share of the Fund. Fractional common shares will not be
issued. Common shares obtained through the exercise of rights by
common shareholders will not be eligible to receive the Fund's
monthly dividends to be paid in September and October 2013.
The subscription price per common share will be determined on
the expiration date. The subscription price will be determined
based on a formula equal to 90% of the average of the last reported
sales price of a common share of the Fund on the NYSE on the
expiration date and each of the four preceding trading days (the
"formula price"). If, however, the formula price is less than 80%
of the Fund's NAV per common share at the close of trading on the
NYSE on the expiration date, the subscription price will be 80% of
the Fund's NAV per common share at the close of trading on the NYSE
on that day. The estimated subscription price has not yet been
determined by the Fund.
Record date common shareholders who fully exercise all of their
primary subscription rights will be eligible for an
over-subscription privilege entitling those common shareholders to
subscribe, subject to certain limitations and subject to allotment,
for additional common shares covered by any unexercised rights.
The Fund expects to send each shareholder a prospectus for the
offer and subscription certificates evidencing the rights offering
to record date common shareholders within the United States
following the record date. Common shareholders who hold their
common shares through a broker, bank or trust company should
contact their representative with instructions to either exercise
or sell their rights. Common shareholders who hold common shares
directly and wish to exercise or sell their rights should complete
the subscription certificate they will receive in the mail and send
it to the subscription agent for the offer, together with their
payment, at one of the locations indicated on the subscription
certificate or in the prospectus.
The Fund is a non-diversified, closed-end management investment
company registered under the Investment Company Act of 1940, as
amended, and was organized as a corporation under the laws of the
State of Maryland on June 8, 2011. The Fund's investment objective
is to provide a high level of total return, with an emphasis on
income.
Brookfield Asset Management Inc. is a global alternative asset
manager with over $183 billion in assets under management as of
June 30, 2013. Brookfield has over a 100-year history of owning and
operating assets with a focus on property, renewable power,
infrastructure and private equity. The company offers a range of
public and private investment products and services, which leverage
its expertise and experience and provide it with a competitive
advantage in the markets where it operates. On behalf of its
clients, Brookfield is also an active investor in the public
securities markets, where its experience extends over 30 years.
Over this time, the company has successfully developed several
investment operations and built expertise in the management of
institutional portfolios, retail mutual funds, and structured
product investments.
Brookfield's public market activities are conducted by
Brookfield Investment Management, a registered investment advisor.
These activities complement Brookfield's core competencies and
include global listed real estate and infrastructure equities,
corporate high yield investments, opportunistic credit strategies
and a dedicated insurance asset management division. Headquartered
in New York, NY, Brookfield Investment Management maintains offices
and investment teams in Toronto, Chicago, Boston and London and has
over $10 billion of assets under management as of June 30, 2013.
Brookfield Global Listed Infrastructure Income Fund Inc. is managed
by Brookfield Investment Management Inc.
The Fund uses its web site as a channel of distribution of
material company information. Financial and other material
information regarding the Fund is routinely posted on and
accessible at www.brookfieldim.com.
Investors should consider the Fund's investment objectives,
risks, charges and expenses carefully before investing. The Fund's
prospectus contains this and other information about the Fund and
should be read carefully before investing. For further information
regarding the Fund's rights offering, or to obtain a prospectus,
when available, please contact the Fund's Information Agent:
AST Fund Solutions, LLC
110 Wall Street, 5th Floor
New York, NY 10005
Banks and Brokers Call: 1-212-400-2605
Toll-Free: 1-877-896-3191
The information in this communication is not complete and may be
changed. The Fund may not sell these securities until the
registration statement filed with the Securities and Exchange
Commission is effective. This communication is not an offer to sell
these securities and is not soliciting an offer to buy these
securities in any state where the offer or sale is not
permitted.
Contacts: Brookfield Global Listed Infrastructure Income Fund
Inc. Brookfield Place 250 Vesey Street New York, NY 10281-1023
(855) 777-8001funds@brookfield.com
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