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Manulife Floating Rate Senior Loan Fund completes US$283.35 million IPO

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RBC Dominion Securities Inc. and syndicate of agents

On May 17, 2013, Manulife Floating Rate Senior Loan Fund. (the "Fund") completed its initial public offering of 23,063,949 class A units (the "Class A Units") at a price of $10.00 per Class A Unit and 1,936,051 class U units (the "Class U Units") at a price of US $10.00 per Class U Unit for gross proceeds of approximately $250 million. On May 31, 2013, pursuant to the over-allotment option granted to the agents, the Fund completed the issuance of 3,335,000 additional Class A Shares for gross proceeds of $33.35 million. In total, the Fund raised aggregate gross proceeds of approximately $283.35 million. The Fund has been created to invest in an actively managed portfolio comprised primarily of investments in senior floating rate loans and, to a lesser extent, short duration debt securities. The Fund's investment objectives are to: (i) provide unitholders with monthly distributions; (ii) preserve capital; and (iii) provide the opportunity for increased income if short-term interest rates rise. The offering was carried out by a syndicate of agents led by RBC Dominion Securities Inc., CIBC World Markets Inc. and Scotia Capital Inc. and included BMO Nesbitt Burns Inc., Manulife Securities Incorporated, National Bank Financial Inc., TD Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., Macquarie Private Wealth Inc., Raymond James Ltd., Desjardins Securities Inc. and Mackie Research Capital Corporation. The syndicate of agents was advised by a team from Fasken Martineau consisting of Stephen Erlichman, Tracy Hooey, Laura Fetter and Mitchell Thaw.



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