Financial 15 Split Corp.

Financial 15 Split Corp.

April 14, 2010 11:46 ET

Financial 15 Split Corp. Completes Secondary Offering of $39,105,000

TORONTO, ONTARIO--(Marketwire - April 14, 2010) - Financial 15 Split Corp. ("the Company") has today completed its secondary offering of 1,980,000 Preferred Shares and 1,980,000 Class A Shares of the Company for aggregate gross proceeds of $39,105,000, bringing the Company's net assets to approximately $169 million. The shares will continue to trade on the Toronto Stock Exchange under the existing symbols FTN (Class A shares) and FTN.PR.A (Preferred shares).

The Preferred Shares were offered at a price of $10.00 per share to yield 5.25% based on current distribution policy. The Class A shares were offered at a price of $9.75 per share to yield 15.47% based on current distribution policy. RBC Capital Markets and CIBC World Markets were co-lead agents for the offering.

The proceeds from the re-opening of the Company, net of expenses and Agents' fee, will be used by the Company to invest in an actively managed portfolio of 15 financial services companies made up of 10 Canadian and 5 U.S. issuers as follows:

Canadian Issuers:       U.S. Issuers:
Bank of Montreal   National Bank of Canada   Bank of America
Bank of Nova Scotia   Manulife Financial Corporation   Citigroup Inc.
Canadian Imperial Bank of Commerce   Sun Life Financial Services   Goldman Sachs Group
Royal Bank of Canada   Great-West Lifeco Inc.   JP Morgan & Chase
Toronto-Dominion Bank   CI Financial Corp.   Wells Fargo & Co.

An electronic copy of the final short form prospectus is available at or

Commissions, trailing commissions management fees and expenses all may be associated with mutual fund investments. Investors should read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

Contact Information

  • Financial 15 Split Corp.
    Investor Relations
    416-304-4443 or Toll Free: 1-877-4-Quadra (1-877-478-2372)