High Rock Canadian High Yield Bond Declares Initial Distribution

TORONTO, Sept. 11, 2014 /CNW/ - HRC Limited Partnership (the "Trustee") in its capacity as Trustee for High Rock Canadian High Yield Bond Fund (the "Fund") has today declared a cash distribution of $0.07562 per Trust Unit. This distribution represents the first distribution, covering the period from August 15, 2014, the closing date of the Fund's initial public offering, to September 30, 2014.

Record and payment dates are as follows:




Record Date

Payment Date

Distribution Amount/Trust Unit

September 30, 2014

October 15, 2014

$0.07562

 

The Fund does not have a fixed distribution but intends to target quarterly distributions based on the estimated annual cash available to the Fund from the income on the portfolio reduced by the expenses of the Fund for the period.

The Fund is a closed-end investment fund created to provide unitholders with investment exposure to a diversified portfolio (the "Portfolio") of high yield bonds of Canadian corporate issuers to be actively managed by High Rock Capital Management Inc. The Fund's investment objectives are to: (i) preserve and enhance the net asset value of the Fund; and (ii) provide unitholders with stable distributions from the Portfolio, through investment primarily in high yield bonds of Canadian corporate issuers.

The units of the Fund are listed for trading on The Toronto Stock Exchange under the symbol HHY.UN.

SOURCE: High Rock Canadian High Yield Bond Fund

For further information: Investor Relations, High Rock Canadian High Yield Bond Fund, Tel: (416) 862-3734, Email: mc.hrchybondfund@scotiabank.com, Website: www.scotiamanagedcompanies.com

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High Rock Canadian High Yield Bond Fund

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