Symphony Floating Rate Senior Loan Fund Supplements Cash
Not for distribution to U.S. news agencies or distribution in the United States.
TORONTO, June 09, 2022 (GLOBE NEWSWIRE) — (TSX: SSF.UN) Symphony Floating Rate Senior Loan Fund (the “Fund”) is pleased to announce that it has completed the previously announced issuance of Class A and Class F Units (the “Class A Units” and “Class F Units”, respectively) for aggregate gross proceeds of approximately $5.5 million.
Class A Units were offered at a price of $7.65 per Class A Unit. Class F Units were offered at a price of $7.5259 per Class F Unit. clients of registered dealers, traders and advisers with fee-based accounts. The Class F Units will be converted into Class A Units which are listed on the Toronto Stock Exchange (the “TSX”) on a one-for-one basis immediately following the closing of the Offering. Accordingly, investors who purchase Class F Units will, upon the closing of the Offering, become holders of Class A Units listed as SSF.UN on the TSX.
The syndicate of agents for the offering was led by RBC Capital Markets, CIBC Capital Markets, National Bank Financial Inc. and TD Securities Inc., and included BMO Capital Markets, Scotiabank, Canaccord Genuity Corp., Raymond James Ltd., Hampton Securities Limited, iA Private Wealth Inc., Echelon Wealth Partners Inc., Manulife Securities Incorporated, Research Capital Corporation and Richardson Wealth Limited.
The investment objectives of the Fund are to pay monthly distributions to unitholders and to preserve capital. The Fund seeks to achieve its investment objectives by investing the property and assets of the Fund in an actively managed diversified portfolio consisting primarily of variable rate, short term secured corporate loans generally issued by lower quality corporations (the “Loans first-class “). Brompton Funds Limited (the “Manager”), the manager of the Fund, believes that Senior Loans offer a potentially higher level of income generation and lower interest rate risk compared to traditional fixed income asset classes . The Fund employs leverage of up to 40% of its total assets for the purpose of acquiring or gaining exposure to additional assets for the Fund’s portfolio and for other short term funding purposes. term as may be determined by the manager from time to time and in accordance with the Fund’s Investment Strategy.
About Brompton Funds
Founded in 2000, Brompton is an experienced investment fund manager with income-oriented investment solutions, including exchange-traded funds (ETFs) and other investment funds traded on the TSX. For more information, please contact your investment advisor, call the Brompton Investor Relations line at 416-642-6000 (toll-free at 1-866-642-6001), email [email protected] com or visit our website at www.bromptongroup. com.
About Nuveen Asset Management
Nuveen Asset Management, LLC, a subsidiary of Nuveen, LLC, is the Fund’s sub-advisor. Nuveen, TIAA’s investment manager, offers a full suite of results-driven investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has US$1.2 trillion in assets under management as of March 31, 2022 and operations in 27 countries. Its investment specialists offer deep expertise in a full range of traditional and alternative investments across a wide range of vehicles and custom strategies. For more information, please visit www.nuveen.com.
A short form base shelf prospectus containing important detailed information about the securities being offered has been filed with the securities commissions or similar authorities in each of the provinces and territories of Canada. Copies of the short form base shelf prospectus may be obtained from any member of the syndicate. The Fund intends to file a supplement to the short form base shelf prospectus, and investors should read the short form base shelf prospectus and the prospectus supplement before making an investment decision. There will be no sale or acceptance of an offer to buy the securities offered until the prospectus supplement has been filed with the securities commissions or similar authorities in each of the provinces and territories of Canada.
You will usually pay brokerage fees to your dealer if you buy or sell units of the Fund on the TSX or other alternative Canadian trading system (an “exchange”). If units are bought or sold on a stock exchange, investors may pay more than the current net asset value when buying units of the Fund and may receive less than the current net asset value when selling them.
There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents containing key information about the fund. You can find more detailed information about the Fund in its public filings available at www.sedar.com. The indicated rates of return are historical compounded annual total returns, including changes in unit value and the reinvestment of all distributions and do not take into account certain charges such as redemption fees or income taxes payable by any holder of securities which would have the effect of reducing returns. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
|Symphony Floating Rate Senior Loan Fund
Compound annual returns of net asset value as of May 31, 2022
|1 year||3 years||5 years||10 years||IF|
|Class A units (TSX: SSF.UN)||1.9%||2.2%||2.5%||4.5%||4.8%|
Returns are for periods ended May 31, 2022 and are unaudited. Inception date November 1, 2011. The table shows the Fund’s compound return on Class A units for each period indicated.
Certain statements contained in this document constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed herein and other matters identified in public documents regarding the Fund, the Fund’s future prospects and expected events or results and may include statements regarding the future financial performance of the Fund. Funds. In some instances, forward-looking information may be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “have the intention to”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may differ from this forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof, and we assume no obligation to update or revise them to reflect new events or circumstances.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from registration requirements . This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities and there will be no sale of such securities in any state where such offer, solicitation or sale would be unlawful.