Dividend 15 Split Corp. II Completes Overnight Offering of $41,167,125
10 April 2014 - 11:28PM
Marketwired
Dividend 15 Split Corp. II Completes Overnight Offering of
$41,167,125
TORONTO, ONTARIO--(Marketwired - Apr 10, 2014) - Dividend 15
Split Corp. II (the "Company") is pleased to announce it has
completed an overnight offering of 2,225,250 Preferred Shares and
2,225,250 Class A Shares. Total gross proceeds of the offering were
$41.2 million, bringing the Company's net assets to approximately
$153.7 million. Shares will trade on the Toronto Stock Exchange
under the existing symbol DF.PR.A (Preferred Shares) and DF (Class
A shares).
The Preferred Shares were offered at a price of $10.00 per share
to yield 5.25% annually and the Class A Shares were offered at a
price of $8.50 per share targeting to yield 14.1%, based on the
current distribution policy.
The offering was co-led by National Bank Financial Inc., CIBC
and RBC Capital Markets and also included BMO Capital Markets, TD
Securities Inc., GMP Securities L.P. and Canaccord Genuity
Corp.
The net proceeds of the secondary offering will be used by the
Company to invest in an actively managed portfolio of
dividend-yielding common shares which includes each of the 15
Canadian companies listed below:
| Bank
of Montreal |
|
Enbridge Inc. |
|
TELUS
Corporation |
| The
Bank of Nova Scotia |
|
Manulife Financial Corp. |
|
Thomson-Reuters Corporation |
| BCE
Inc. |
|
National Bank of Canada |
|
The
Toronto-Dominion Bank |
|
Canadian Imperial Bank of Commerce |
|
Royal
Bank of Canada |
|
TransAlta Corporation |
| CI
Financial Corp. |
|
Sun
Life Financial Inc. |
|
TransCanada Corporation |
Commissions, trailing commissions, management fees and
expenses all may be associated with mutual fund investments.
Investors should read the prospectus before investing. Mutual funds
are not guaranteed, their values change frequently and past
performance may not be repeated. Please read the Company's
publically filed documents which are available at
www.sedar.com.
Investor Relations416-304-4443, toll free at 1-877-4-Quadra
(1-877-478-2372)www.dividend15.com
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