Aston Hill Capital Markets Announces Special Distributions

TORONTO, Jan. 13, 2016 /CNW/ - Aston Hill Capital Markets Inc. (the "Manager") announced today special distributions for Australian Banc Capital Securities Trust ("AB Fund"), Canadian Banc Capital Securities Trust ("CB Fund") and North American Financials Capital Securities Trust ("NA Fund" and, collectively the "Funds") to unitholders of record of the Funds on January 22, 2016.

AB Fund will pay a special cash distribution of $0.585 per Class A Unit ($0.611 per Class F Unit) and a special non-cash distribution of $1.755 per Class A Unit ($1.833 per Class F Unit) which will be paid in additional units (to be consolidated back to the original number of units of AB Fund, resulting in unitholders incurring a non-cash capital gain equal to the non-cash distribution amount with a matching increase in their adjusted cost base per unit). The special cash distribution will be paid on or about January 25, 2016. The special distributions are expected to be characterized as capital gains for tax purposes and are largely the result of the termination of AB Fund's forward purchase and sale agreement.

CB Fund will pay a special non-cash distribution of $0.162 per Class A Unit ($0.179 per Class F Unit) and NA Fund will pay a special non-cash distribution of $0.151 per Class A Unit ($0.166 per Class F Unit). These distributions will be paid in additional units (to be consolidated back to the original number of units of CB Fund and NA Fund, as applicable). The special distributions are expected to be characterized as a combination of interest and eligible dividends for tax purposes and are largely the result of the previously announced merger proposal whereby CB Fund, NA Fund and other funds managed by the Manager, including AB Fund, will merge with NA Fund as the continuing fund.

The Class A Units of Australian Banc Capital Securities Trust are listed on the TSX under the symbol AUZ.UN. The Class A Units of Canadian Banc Capital Securities Trust are listed on the TSX under the symbol CSB.UN. The Class A Units of North American Financials Capital Securities Trust are listed on the TSX under the symbol NAF.UN.

Aston Hill Capital Markets Inc. is a leading Canadian structured financial products investment firm focused on creating and managing high quality investment vehicles. The Manager is a subsidiary of Aston Hill Financial Inc. (TSX: AHF). Aston Hill Financial Inc. is a diversified asset management company with a suite of retail mutual funds, closed end funds, hedge funds and segregated institutional funds. Aston Hill Financial is headquartered in Toronto.

SOURCE Aston Hill Capital Markets Inc.

For further information: please contact your financial advisor, call Aston Hill's Sales and Marketing support line at 416-583-2300 (toll-free at 1-800-513-3868), or visit our website at www.astonhill.ca.


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890