Skip to main content
Client Work

Ridgewood Canadian Investment Grade Bond Fund closes US$15 million public offering

Fasken
Reading Time 1 minute read Subscribe
Client

Ridgewood Canadian Investment Grade Bond Fund

On December 15, 2011, Ridgewood Canadian Investment Grade Bond Fund (the "Fund") completed a public offering of 1,335,914 units at a price of $11.47 per unit for gross proceeds of approximately $15.3 million. The units are listed on the Toronto Stock Exchange (TSX: RIB.UN).

The Fund is designed to provide unit holders with monthly cash distributions, initially targeted to be 5.25% per annum on the original issue price of $12.00 per unit, and maximize total returns for unit holders while preserving capital in the long term.

The offering was made through a syndicate of agents co-led by TD Securities Inc., CIBC and RBC Capital Markets that included BMO Capital Markets, GMP Securities L.P., National Bank Financial Inc., Scotia Capital Inc., Raymond James Ltd., Canaccord Genuity Corp., Macquarie Group and Manulife Securities Incorporated.

The Fund and its manager, Ridgewood Capital Asset Management Inc., were advised in this transaction by Tracy Hooey and Daniel Fuke who were assisted by Graham A. Hood, student-at-law.

    Subscribe

    Receive email updates from our team

    Subscribe