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TORONTO, Sept. 23, 2011 /CNW/ - Claymore Investments, Inc. is pleased to
announce that Big Bank Big Oil Split Corp. (the "Company") has filed a
final short form prospectus in connection with a follow on offering
(the "Offering") of Capital Shares and Preferred Shares of the Company.
The maximum amount of the Offering of 1,400,000 Preferred Shares and
1,400,000 Capital Shares is $28,210,000. The Preferred Shares are being
offered at a price of $10.20 per Preferred Share and the Capital Shares
are being offered at a price of $9.95 per Capital Share. The Company
has granted to the agents in the Offering an over-allotment option to
acquire up to 15% of the Preferred Shares and Capital Shares issued
under the Offering. The Capital Shares and Preferred Shares trade on
the Toronto Stock Exchange (the "TSX") under the symbols "BBO" and
The Company invests in a portfolio (the "Portfolio") of common shares of
the six big Canadian banks and the ten biggest (by market
capitalization) Canadian oil and gas companies utilizing a split share
structure. The Company invests in the Portfolio on an equal‐weighted
basis and provides a low fee approach to the underlying sectors. The
Preferred Shares are rated Pfd‐2 (low) by DBRS Ltd. The Company may
write covered call options and cash covered put options on the
Portfolio in order to generate additional returns.
The investment objectives for the Preferred Shares are: (i) to provide
holders with fixed cumulative preferential quarterly cash distributions
in the amount of $0.13125 per Preferred Share; and (ii) to return the
original issue price of $10.00 per Preferred Share to holders on
December 30, 2016. The investment objectives for the Capital Shares
are: (i) to provide holders with regular monthly cash distributions,
which are currently $0.09 per Capital Share; and (ii) to provide
holders with the opportunity for growth in the net asset value per
The Offering is being made on a best efforts agency basis in each of the
provinces and territories in Canada through a syndicate of investment
dealers co-led by TD Securities Inc. and CIBC World Markets Inc. and
including GMP Securities L.P., RBC Dominion Securities Inc., Scotia
Capital Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc.,
Canaccord Genuity Corp., HSBC Securities (Canada) Inc., Raymond James
Ltd., Desjardins Securities Inc., Macquarie Private Wealth Inc., Dundee
Securities Ltd., Mackie Research Capital Corporation, and Rothenberg
Capital Management Inc.
About Claymore Investments, Inc.
Claymore Investments, Inc. ("Claymore") is a Canadian leader in bringing
intelligent, low cost exchange-traded funds to Canada through its
family of 31 ETFs and 2 closed-end funds across broad asset classes
including core equity, global sectors, fixed income and commodities
with over $6.7 billion in assets under management as of August 31,
2011. Claymore Investments, Inc. is a wholly-owned subsidiary of
Guggenheim Funds Services Group, Inc., a financial services and asset
management company based in the Chicago, Illinois area and an indirect
subsidiary of Guggenheim Partners, LLC, ("Guggenheim") a global,
diversified financial services firm with more than $100 billion in
assets under supervision. Guggenheim, through its affiliates, provides
investment management, investment advisory, insurance, investment
banking, and capital markets services. The firm is headquartered in
Chicago and New York with a global network of offices throughout the
United States, Europe, and Asia.
For more information, investors should consult with their investment
advisor or visit our website at www.claymoreinvestments.ca.
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 member of the
syndicate or from Claymore Investments, Inc. by phone at (866) 417-4640
or email at firstname.lastname@example.org. Investors should read the prospectus before making an investment
SOURCE Claymore Investments, Inc.
For further information:
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Vice President, Marketing, Claymore Investments, Inc.
President, Claymore Investments, Inc.