Maximum $200 million – Closing July 24, 2014
CALGARY, June 27, 2014 /CNW/ - Middlefield Group, on behalf of Global Infrastructure Dividend Fund (the "Fund"), is pleased to announce that it has filed a final prospectus in relation to an initial public offering of units at a price of $10.00 per unit. The minimum amount of the offering is $50 million and the maximum is $200 million.
The Fund's investment objectives are to provide holders of units with:
(i) stable monthly cash distributions; and
(ii) long-term total return through distributions and capital appreciation of the Fund's investment portfolio;
through an investment strategy which focuses on a diversified, actively managed portfolio comprised primarily of dividend-paying global issuers that own, develop, operate, support or maintain assets or businesses related to infrastructure, energy transportation or real estate.
The initial target distribution yield for the Fund is 6.0% per annum based on the original subscription price (or $0.05 per unit per month or $0.60 per unit per annum).
Middlefield Limited, the manager, intends that on or about August 15, 2016, the Fund will, subject to applicable laws and receipt of any regulatory approvals required, merge on a tax-deferred basis with Middlefield Global Infrastructure Fund, an open-end mutual fund.
The syndicate of agents is being co-led by CIBC, RBC Capital Markets and Scotiabank and includes BMO Capital Markets, National Bank Financial Inc., TD Securities Inc., GMP Securities L.P., Canaccord Genuity Corp., Raymond James Ltd., Middlefield Capital Corporation, Dundee Securities Ltd., Mackie Research Capital Corporation and Manulife Securities Incorporated.
This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from your IIROC registered financial advisor using the contact information for such advisor. Investors should read the prospectus before making an investment decision.
SOURCE: Global Infrastructure Dividend Fund
For further information: please visit our website at www.middlefield.com or contact Nancy Tham, Managing Director, Sales and Marketing, at 416.847.5349 or 1.888.890.1868.