TORONTO, Sept. 30, 2013 /CNW/ - Macquarie Global Investment Canada Ltd. is pleased to announce that Macquarie Global 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 units of the Fund at a price of $10.00 per unit is expected to close on October 22, 2013. The maximum offering size is $150,000,000.
The Toronto Stock Exchange has conditionally approved the listing of the units under the symbol MQI.UN. The units are scheduled to commence trading on the day of closing.
The Fund's investment objectives are to: (a) provide holders of units with quarterly cash distributions, initially targeted to be $0.15 per unit ($0.60 per annum representing an annual cash distribution of 6.0% based on the $10.00 per unit issue price); (b) maximize total return for unitholders, consisting of distributions and capital appreciation; and (c) preserve capital. 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 global infrastructure companies that own and/or operate infrastructure assets.
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 and world's largest infrastructure investor with over $366 billion globally in assets under management of which $107 billion (inclusive of MCIM's affiliates globally) is invested in both listed and private or direct infrastructure mandates (as at June 30, 2013).
Aston Hill Capital Markets Inc. (formerly Connor, Clark & Lunn Capital Markets Inc.), will act as the manager (the "Manager") of the Fund. The Manager is a leading provider of investment products having raised over $2.5 billion in assets.
The offering is being made through a syndicate of agents co-led by RBC Capital Markets, Macquarie Private Wealth Inc. and CIBC that includes BMO Capital Markets, Scotiabank, National Bank Financial Inc., TD Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., Raymond James Ltd., Desjardins Securities Inc., Manulife Securities Incorporated, Dundee Securities Ltd., Haywood Securities Inc., HSBC Securities (Canada) Inc. and Mackie Research Capital Corporation.
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: Aston Hill Capital Markets Inc.
For further information:
Macquarie Global Investments Canada Ltd.
Vice President & CFO
Aston Hill Capital Markets Inc.