Front Street MLP Income Fund II Ltd.

Front Street MLP Income Fund II Ltd.

May 02, 2011 16:01 ET

Front Street Announces Filing of Front Street MLP Income Fund II Ltd. Final Prospectus

TORONTO, ONTARIO--(Marketwire - May 2, 2011) -


Front Street Capital is pleased to announce the filing of a final prospectus dated April 28, 2011 for an initial public offering of equity shares of Front Street MLP Income Fund II Ltd. at $10.00 per share. Front Street MLP Income Fund II Ltd. has been created to provide investors with exposure to an actively managed, diversified notional portfolio (the "MLP Portfolio") of energy infrastructure master limited partnerships ("MLPs"). MLPs are U.S. limited partnerships or limited liability companies that are publicly traded on U.S. securities exchanges. MLPs are primarily engaged in the transportation, storage, processing, refining, marketing, exploration and production and mining of minerals or natural resources. Front Street Capital 2004 is the manager of the Fund, and SteelPath Fund Advisors, LLC is the specialist MLP portfolio advisor.

The Fund, through its exposure to the MLP Portfolio, will seek to provide investors with quarterly tax-advantaged cash distributions and long-term capital appreciation. Distributions are initially targeted to be $0.13125 per quarter, representing a distribution rate of 5.25% on the initial subscription price of an equity share.

The closing of this issue and the listing of Front Street MLP Income Fund II Ltd. on the Toronto Stock Exchange is expected to be on May 20, 2011. The shares will be listed on the Toronto Stock Exchange under the symbol MLQ.

The offering is being made through a syndicate of investment dealers co-led by CIBC, RBC Capital Markets and National Bank Financial Inc. and which also includes BMO Nesbitt Burns Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Genuity Corp., Dundee Securities Ltd., GMP Securities L.P., HSBC Securities (Canada) Inc., Macquarie Capital Markets Canada Ltd., Raymond James Ltd., Wellington West Capital Markets Inc., Sherbrooke Street Capital (SSC) Inc. and Tuscarora Capital Inc.

This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from one of the investment dealers names above. Investors should read the prospectus before making an investment decision.

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