TORONTO, Feb. 18, 2015 /CNW/ - Aston Hill Capital Markets Inc. ("Aston Hill") as manager of Build America Investment Grade Bond Fund (the "Fund") announced today regular and special distributions for the Fund.
The regular monthly distribution of $0.1198 per Class A Unit and Class F Unit will be paid on March 13, 2015 to holders of record on February 27, 2015. In addition, the Fund will pay a special capital gains distribution to Unitholders of record on February 27, 2015. The special capital gains distribution will be comprised of $0.6084 per Class A Unit ($0.6739 per Class F Unit) which will be paid in additional Units (to be consolidated back to the original number of Units of the Fund, resulting in Unitholders incurring a non-cash capital gain equal to the non-cash portion of the distribution amount with a matching increase in their adjusted cost base per Unit) and $0.2028 per Class A Unit ($0.2247 per Class F Unit) in cash to offset the estimated tax liability of Unitholders resulting from such distribution. The cash portion of the distribution will be paid on or about March 13, 2015. The capital gains distribution is largely the result of the scheduled termination of the Fund's forward purchase and sale agreement. The forward agreement was entered into by the Fund at its inception date to provide unitholders with tax-advantaged distributions characterized as return of capital.
About Build America Investment Grade Bond Fund
The Fund is an investment trust whose investment objectives are to (i) provide Unitholders with monthly cash distributions, and (ii) maximize total return for Unitholders, while seeking to reduce risk. The Class A Units are listed for trading on the Toronto Stock Exchange under the symbol BAB.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, private equity funds, hedge funds and segregated institutional funds. Aston Hill Financial has offices in Calgary, Toronto and Halifax.
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.