Canadian Energy Convertible Debenture Fund

Canadian Energy Convertible Debenture Fund
First Asset

First Asset

December 07, 2009 12:52 ET

Canadian Energy Convertible Debenture Fund Files Preliminary Prospectus

TORONTO, ONTARIO--(Marketwire - Dec. 7, 2009) - Canadian Energy Convertible Debenture Fund (the "Fund") announces that it has filed a preliminary prospectus dated December 3, 2009 with the securities regulatory authorities of all of the Canadian provinces for an initial public offering of a maximum of 7,500,000 trust units (the "Units") at $10 per Unit, for maximum gross proceeds of $75 million.

The Fund has been created to invest in an actively managed portfolio comprised primarily of convertible debentures of Canadian energy issuers. 

The Fund's investment objectives are to provide holders of Units with:

(i) monthly distributions initially targeted to be 7% per annum on the subscription price of $10.00 per Unit ($0.05833 per Unit per month or $0.70 per annum); and

(ii) the opportunity for capital appreciation.

The Portfolio will be actively managed by First Asset, co-led by portfolio managers Lee Goldman and John Stephenson. First Asset is a Canadian wealth management company that manages and administers in excess of $1.4 billion in assets including approximately $300 million in convertible debentures.

On or about June 30, 2011, the Fund will automatically convert to an open-end mutual fund.

Prospective purchasers may purchase Units either by cash payment or by an exchange of freely tradeable securities of each class or series of securities described in the table below. Prospective purchasers under the Exchange Option will be required to deposit their eligible exchange securities prior to 5:00 p.m. (Toronto time) on December 18, 2009 in the manner described in the preliminary prospectus.

IssuerConvertible DebentureTSX SymbolCUSIP
Advantage Oil & Gas Ltd.7.75% due December 1, 2011AAV.DB.D00765FAC5
Advantage Oil & Gas Ltd.6.50% due June 30, 2010AAV.DB.E00765FAA9
Advantage Oil & Gas Ltd.8.00% due December 31, 2011AAV.DB.G00765FAD3
Ag Growth International Inc.7.00% due December 31, 2014AFN.DB001181AA4
Anatolia Minerals Development Limited4.75% due April 30, 2012ANO.DB032900AA0
Algonquin Power & Utilities Corp.7.50% due November 30, 2014AQN.DB015857AA3
Algonquin Power & Utilities Corp.7.00% due June 30, 2017AQN.DB.B015857AC9
Atlantic Power Corporation6.25% due October 31, 2011ATP.DB04878QAH6
Atlantic Power Corporation6.25% due March 15, 2017 ATP.DB.A04878QAM5
Bellatrix Exploration Ltd.7.50% due June 30, 2011BXE.DB078314AA9
Connacher Oil and Gas Limited4.75% due June 30, 2012CLL.DB.A20588YAA1
Canexus Income Fund8.00% due December 31, 2014CUS.DB13751RAB0
Daylight Resources Trust8.50% due October 31, 2012DAY.DB.B239600AB5
Daylight Resources Trust10.00% due December 31, 2013DAY.DB.C239600AE9
Enterra Energy Trust8.00% due December 31, 2011ENT.DB29381PAA0
Enterra Energy Trust8.25% due June 30, 2012ENT.DB.A29381PAB8
Extendicare Real Estate Investment Trust5.70% due June 30, 2014EXE.DB302251AA1
Extendicare Real Estate Investment Trust7.25% due June 30, 2013EXE.DB.A302251AB9
Firm Capital Mortgage Investment Trust6.00% due June 30, 2013FC.DB318324AA8
Fairborne Energy Ltd.6.50% due December 31, 2011FEL.DB303623AA0
First Uranium Corporation4.25% due June 30, 2012FIU.DB33744RAA0
Great Basin Gold Ltd.8.00% due November 30, 2014GBG.DB390124AA3
Harvest Energy Trust6.50% due December 31, 2010HTE.DB.B41752XAD3
Harvest Energy Trust6.40% due October 31, 2012HTE.DB.D41752XAF8
Harvest Energy Trust7.25% due September 30, 2013HTE.DB.E41752XAH4
Harvest Energy Trust7.25% due February 28, 2014HTE.DB.F41752XAJ0
Harvest Energy Trust7.50% due May 31, 2015HTE.DB.G41752XAK7
Jazz Air Income Fund9.50% due December 31, 2014JAZ.DB47214XAA8
Just Energy Exchange Corp.6.00% due September 30, 2014JEX.DB48214AAA6
Keyera Facilities Income Fund8.25% due December 31, 2013KEY.DB.A493272AB4
Macquarie Power & Infrastructure Income Fund6.75% due December 31, 2010MPT.DB556084AA9
NAL Oil & Gas Trust6.75% due August 31, 2012NAE.DB628949AA7
NAL Oil & Gas Trust6.25% due December 31, 2014NAE.DB.A628949AB5
Northland Power Income Fund6.50% due June 30, 2011NPI.DB666910AA2
Northland Power Income Fund6.25% due December 31, 2014NPI.DB.A666910AB0
Pacific Rubiales Energy Corp.8.00% due August 29, 2013PRE.DB69480UAA5
Paramount Energy Trust6.25% due June 30, 2010PMT.DB.A699219AC5
Paramount Energy Trust6.25% due April 30, 2011PMT.DB.B699219AE1
Paramount Energy Trust6.50% due June 30, 2012PMT.DB.C699219AF8
Parkland Income Fund6.5% due November 30, 2014 PKI.DB70137QAA9
Pengrowth Energy Trust6.50% due December 31, 2010PGF.DB706902AA1
Penn West Energy Trust7.20% due May 31, 2011PWT.DB.E707885AB5
Penn West Energy Trust6.50% due December 31, 2011PWT.DB.F707885AF6
Progress Energy Resources Corp.6.75% due June 30, 2010PRQ.DB74326YAA5
Progress Energy Resources Corp.6.25% due September 30, 2011PRQ.DB.A74326YAB3
Progress Energy Resources Corp.5.25% due October 31, 2014PRQ.DB.B74326YAC1
Provident Energy Trust6.50% due August 31, 2012PVE.DB.C74386KAD6
Provident Energy Trust6.50% due April 30, 2011PVE.DB.D74386KAE4
Superior Plus Corp.5.75% due December 31, 2012SPB.DB.B86828PAA1
Superior Plus Corp.5.85% due October 31, 2015SPB.DB.C86828PAB9
Trinidad Drilling Ltd.7.75% due July 31, 2012TDG.DB896356AA0
Uranium One Inc.4.25% due December 31, 2011UUU.DB91701PAA3
Western Coal Corp.7.50% due March 24, 2011WTN.DB95801TAA5

The syndicate of agents for this offering is being led by CIBC World Markets Inc. and National Bank Financial Inc., and includes BMO Capital Markets, RBC Capital Markets, Scotia Capital Inc., TD Securities, Dundee Securities Corporation, Raymond James Ltd., Canaccord Adams, GMP Securities L.P., HSBC Securities (Canada) Inc., Manulife Securities Incorporated and Wellington West Capital Markets Inc.

Contact Information

  • First Asset
    Rob MacNiven
    Investor Relations
    416-642-1289 or 1-877-642-1289
    www.firstasset.com