Canadian General Investments, Limited Redeems $75 Million Class A Preference Shares, Series 3 Funded by $75 Million Credit Facility
(firmenpresse) - TORONTO, CANADA -- (Marketwired) -- 06/10/16 -- Canadian General Investments, Limited ("CGI") (TSX: CGI)(TSX: CGI.PR.D)(LSE: CGI) today completed the previously announced redemption of its $75,000,000 3.90% Cumulative Redeemable Class A Preference Shares, Series 3. This redemption was in accordance with the terms of the Series 3 shares.
The aggregate amount of $75,697,200 (including accrued and unpaid dividends from March 15, 2016 to, but excluding, June 10, 2016) was funded primarily through CGI's recently announced $75,000,000 secured credit facility with a Canadian chartered bank. The credit facility is a non-revolving, three-year fixed rate facility that bears interest at 2.28% per annum to be paid quarterly.
CGI has engaged in a leverage strategy since its first issuance of Class A preference shares in 1998 in an effort to enhance returns to common shareholders.
Contacts:
Canadian General Investments, Limited
Jonathan A. Morgan
President and CEO
(416) 366-2931
(416) 366-2729 (FAX)
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Datum: 10.06.2016 - 14:46 Uhr
Sprache: Deutsch
News-ID 477013
Anzahl Zeichen: 0
contact information:
Town:
TORONTO, CANADA
Kategorie:
Personal Finance
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