TORONTO, March 12, 2015 /CNW/ - (TSX: IHL-UN) ING High Income Floating Rate Fund (the "Fund") will commence its normal course issuer bid to purchase up to 776,876 Class A units of the Fund representing approximately 10% of the public float of 7,768,763 Class A units. The Fund may purchase up to 155,395 Class A units in any 30 day period which is 2% of the 7,769,763 issued and outstanding Class A units at March 3, 2015.
As of March 3, 2015, the Fund had purchased 4,500 units under its current bid at an average price of $9.04 per unit.
The Class A units may be purchased for cancellation from March 14, 2015 to March 13, 2016 through the facilities of the TSX or other eligible alternative market and may only be purchased at a price per Class A unit not exceeding the last published net asset value per Class A unit. The Manager of the Fund believes that such purchases are in the best interest of the Fund and are a desirable use of its available funds.
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.