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THE UNITED STATES/
TORONTO, Sept. 29, 2011 /CNW/ - Claymore Investments, Inc. is pleased to
announce that Big Bank Big Oil Split Corp. (the "Company") has
completed its previously announced follow-on offering (the "Offering")
of 1,546,550 preferred shares (the "Preferred Shares") of the Company
at a price of $10.20 per Preferred Share (of which 146,550 were sold
pursuant to the exercise of the over-allotment option) and 1,546,550
capital shares (the "Capital Shares") of the Company at a price of
$9.95 per Capital Share (of which 146,550 were sold pursuant to the
exercise of the over-allotment option) for total gross proceeds of
$31,162,982.50 pursuant to a short form prospectus dated September 22,
2011. The Capital Shares and Preferred Shares trade on the Toronto
Stock Exchange under the symbols "BBO" and "BBO.PR.A" respectively.
The Company invests in a portfolio (the "Portfolio") of common shares of
the six big Canadian banks and the ten biggest (by market
capitalization) Canadian oil and gas companies utilizing a split share
structure. The Company invests in the Portfolio on an equal‐weighted
basis and provides a low fee exposure to the underlying sectors. The
Preferred Shares are rated Pfd‐2 (low) by DBRS Ltd. The Company may
write covered call options and cash covered put options on the
Portfolio in order to generate additional returns.
The investment objectives for the Preferred Shares are: (i) to provide
holders with fixed cumulative preferential quarterly cash distributions
in the amount of $0.13125 per Preferred Share; and (ii) to return the
original issue price of $10.00 per Preferred Share to holders on
December 30, 2016. The investment objectives for the Capital Shares
are: (i) to provide holders with regular monthly cash distributions,
which are currently $0.09 per Capital Share; and (ii) to provide
holders with the opportunity for growth in the net asset value per
The Offering was made on a best efforts agency basis in each of the
provinces and territories in Canada through a syndicate of investment
dealers co-led by TD Securities Inc. and CIBC World Markets Inc. and
including GMP Securities L.P., RBC Dominion Securities Inc., Scotia
Capital Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc.,
Canaccord Genuity Corp., HSBC Securities (Canada) Inc., Raymond James
Ltd., Desjardins Securities Inc., Macquarie Private Wealth Inc., Dundee
Securities Ltd., Mackie Research Capital Corporation, and Rothenberg
Capital Management Inc.
About Claymore Investments, Inc.
Claymore Investments, Inc. ("Claymore") is a Canadian leader in bringing
intelligent, low cost exchange-traded funds to Canada through its
family of 31 ETFs and 2 closed-end funds across broad asset classes
including core equity, global sectors, fixed income and commodities
with over $6.7 billion in assets under management as of August 31,
2011. Claymore Investments, Inc. is a wholly-owned subsidiary of
Guggenheim Funds Services Group, Inc., a financial services and asset
management company based in the Chicago, Illinois area and an indirect
subsidiary of Guggenheim Partners, LLC ("Guggenheim") a global,
diversified financial services firm with more than $100 billion in
assets under supervision. Guggenheim, through its affiliates, provides
investment management, investment advisory, insurance, investment
banking, and capital markets services. The firm is headquartered in
Chicago and New York with a global network of offices throughout the
United States, Europe, and Asia.
Commissions, management fees and expenses may be associated with any
investment fund. Investors should consider the investment objectives
and policies, risk considerations, charges and ongoing expenses of a
fund before investing. Please read the prospectus carefully before you
invest. For a copy of the prospectus or more information, please
contact your IIROC registered advisor or Claymore Investments, Inc.
For more information, investors should consult with their investment
advisor or visit our website at www.claymoreinvestments.ca.
SOURCE Claymore Investments, Inc.
For further information:
For media inquiries, please contact:
Vice President, Marketing, Claymore Investments, Inc.
President, Claymore Investments, Inc.