Bloom U.S. Advantaged Income & Growth Fund files final prospectus
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TORONTO, Feb. 26, 2013 /CNW/ - Bloom Investment Counsel, Inc. (the "Manager") is pleased to announce that Bloom U.S. Advantaged Income & Growth Fund (the "Fund") has filed a final prospectus for a public offering of Class A Units and Class U Units at a price of $10.00 per Class A Unit and U.S.$10.00 per Class U Unit. The Class U Units are designed for investors wishing to make their investment in U.S. dollars. The offering is scheduled to close on or about March 21, 2013. The Toronto Stock Exchange ("TSX") has conditionally approved the listing of the Class A Units under the symbol of BUA.UN, subject to the fulfillment of TSX requirements.
The Fund's investment objectives are to provide unitholders with (i) exposure through a forward agreement to an actively managed portfolio held by BUIG Trust comprised primarily of publicly traded high dividend paying U.S. common equity securities, including REITs; (ii) stable monthly tax-advantaged cash distributions; and (iii) the opportunity for capital appreciation. Substantially all of the U.S. dollar value of the portfolio attributable to the Class A Units will be hedged back to the Canadian dollar. The Class U Units will not be hedged.
The initial distribution target for the Fund is expected to be $0.05 per Class A Unit per month and U.S.$0.05 per Class U Unit per month representing a yield of 6.00% per annum on the issue price of $10.00 per Class A Unit or U.S.$10.00 per Class U Unit, as applicable.
The syndicate of agents for the offering is being co-led by BMO Capital Markets, CIBC and RBC Capital Markets and includes National Bank Financial Inc., Raymond James Ltd., Scotiabank, TD Securities Inc., Canaccord Genuity Corp., Desjardins Securities Inc., GMP Securities L.P., Mackie Research Capital Corporation, Macquarie Private Wealth Inc., Dundee Securities Ltd., Industrial Alliance Securities Inc. and Manulife Securities Incorporated.
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 one of the above-noted agents. Investors should read the prospectus before making an investment decision.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to the future outlook of the Fund and anticipated distributions, events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "anticipate", "believe", "intend" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. The Manager undertakes no obligation to update publicly or otherwise revise any forward-looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, or any state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities within the United States.
SOURCE: Bloom U.S. Advantaged Income & Growth FundFor further information:
Please contact your financial advisor, call the Manager at 1-855-BLOOM18 or visit the Manager's website at www.bloomfunds.ca