TORONTO, Nov. 28, 2013 /CNW/ - Senior Secured Floating Rate Loan Fund
(the "Fund") announced today acceptance by the Toronto Stock Exchange
(the "TSX") of the Fund's Notice of Intention to make a Normal Course
Issuer Bid (the "NCIB").
Pursuant to the NCIB, the Fund proposes to purchase through the
facilities of the TSX, from time to time, if it is in the best
interests of the Fund, up to 1,720,000 class A units ("Units") of the
Fund, representing approximately 10% of the public float. As of
November 25, 2013, the number of the Fund's issued and outstanding
Units were 17,200,000 Units. The Fund will not purchase in any given
30-day period, in aggregate, more than 344,000 Units, being 2% of the
issued and outstanding Units as of the date hereof. The Board of
Directors of Propel Capital Corporation, the manager of the Fund,
believe that such purchases are in the best interests of the Fund. All
purchases will be made through the facilities of the TSX in accordance
with its rules and policies. All Units purchased by the fund pursuant
to the NCIB will be cancelled. The NCIB will commence on December 2,
2013 and will expire on December 1, 2014.
SOURCE: Senior Secured Floating Rate Loan Fund
For further information:
please contact Krista Matheson at Propel Capital at email@example.com or at 416-572-2431 or visit www.propelcapital.ca.