TORONTO, Feb. 1 /CNW/ - Connor, Clark & Lunn Capital Markets Inc., is
pleased to announce that Macquarie Emerging Markets Infrastructure
Income Fund (the "Fund") has filed a final prospectus with the
securities regulatory authorities of all of the provinces and
territories of Canada. The initial public offering of combined units of
the Fund at a price of $12.00 per combined unit is expected to close on
February 18, 2011. The minimum offering size is $25,000,008 and the
maximum offering size is $100,000,008.
The Toronto Stock Exchange has conditionally approved the listing of the
combined units under the symbol MQA.A, the units under the symbol
MQA.UN and the warrants under the symbol MQA.WT. The combined units are
scheduled to commence trading on the day of closing. The units and
warrants comprising the combined units will separate immediately
following the earlier of the closing of the final exercise of the
over-allotment option granted by the Fund or 30 days after the closing
of the initial public offering and will trade separately thereafter.
The Fund's investment objectives are to generate: (a) quarterly
distributions for holders of units initially targeted to be $0.15 per
unit ($0.60 per annum representing an annual cash distribution of 5.0%
based on the $12.00 per combined unit issue price); and (b) total
return for unitholders, consisting of dividend income and capital
appreciation. To achieve the Fund's investment objectives, the net
proceeds of the offering will be invested in a portfolio consisting of
infrastructure equity securities issued by entities domiciled in
Macquarie Capital Investment Management LLC ("MCIM"), a member of
Macquarie Group, is a global leader in the listed infrastructure sector
and will act as the portfolio manager (the "Portfolio Manager") of the
Fund. The Portfolio Manager is part of the Macquarie Funds Group
("MFG"), Macquarie Group's funds management business. MFG is
Australia's largest asset manager with over $300 billion globally in
assets under management of which $93 billion (inclusive of MCIM's
affiliates) is invested in both listed and private or direct
infrastructure mandates (as at September 30, 2010).
Connor, Clark & Lunn Capital Markets Inc., as the manager (the
"Manager") of the Fund, will perform or will arrange for the
performance of management services for the Fund, including portfolio
management services, and will be responsible for the overall
undertaking of the Fund. The Manager is a leading provider of
investment products, having raised over $1.8 billion in assets. The
Manager is part of the Connor, Clark & Lunn Financial Group.
The offering is being made through a syndicate of agents co-led by RBC
Capital Markets, CIBC and BMO Capital Markets that includes National
Bank Financial Inc., Scotia Capital Inc., Macquarie Private Wealth
Inc., GMP Securities L.P., Canaccord Genuity Corp., HSBC Securities
(Canada) Inc., Desjardins Securities Inc., Dundee Securities
Corporation, Raymond James Ltd. and Wellington West Capital Markets
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 any of the
above-mentioned agents. Investors should read the prospectus before
making an investment decision.
SOURCE Macquarie Emerging Markets Infrastructure Income Fund
For further information:
For further information, please visit www.cclcapitalmarkets.com or www.macquarieglobalinvestments.ca or contact:
|W. Neil Murdoch |
President & Chief Executive Officer
Connor, Clark & Lunn Capital Markets Inc.
Macquarie Global Investments