Pathfinder Convertible Debenture Fund Completes $43 million Treasury Offering
TORONTO, Aug. 31, 2012 /CNW/ - Middlefield Group, on behalf of Pathfinder Convertible Debenture Fund (TSX: PCD.UN) ("Pathfinder" or the "Fund"), is pleased to announce that it has completed an additional offering of 3,490,000 units of the Fund at a price of $12.33 per unit for gross proceeds of $43,031,700.
Pathfinder's investment objectives are to pay monthly distributions to unitholders and to maximize total after-tax returns for unitholders over the life of the Fund.
Pathfinder obtains exposure to an actively managed diversified portfolio comprised primarily of convertible debentures of Canadian issuers. Middlefield Capital Corporation, the Advisor, believes that convertible debentures represent an appealing investment opportunity, providing:
|I.||high levels of stable current income and attractive yields to maturity;|
|II.||additional stability and safety of a senior security position relative to an investment in equities, income trust securities or preferred securities; and|
|III.||the potential for common equity-like returns.|
Formed in 1979, Middlefield Group creates and manages specialized investment products for individual and institutional investors and has assets under management of approximately $3 billion.
The syndicate of agents is being led by CIBC and RBC Capital Markets and includes BMO Capital Markets, National Bank Financial Inc., Scotiabank, TD Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., Middlefield Capital Corporation, Raymond James Ltd., Macquarie Private Wealth Inc. and Dundee Securities Ltd.
This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from your IIROC registered financial advisor. Investors should read the prospectus before making an investment decision.
SOURCE: Pathfinder Convertible Debenture FundFor further information:
please visit our website at www.middlefield.com or contact Nancy Tham, Managing Director, Sales and Marketing, at 416.847.5349 or 1.888.890.1868.