Integrated Asset Management Corp.

Integrated Asset Management Corp.

July 13, 2010 08:30 ET

Integrated Asset Management Corp. and Integrated Private Debt Corp. Announce $24.5 Million Initial Financing for Davis + Henderson Income Fund

TORONTO, ONTARIO--(Marketwire - July 13, 2010) - Integrated Asset Management Corp. ("IAM") (TSX:IAM) and its private corporate debt group, Integrated Private Debt Corp. ("IPD") along with another investor announced today the closing on June 30th, 2010 of a C$80 million senior secured shelf facility to Davis + Henderson Income Fund (TSX:DHF.UN) ("Davis + Henderson" or the "Fund"). IPD advanced C$24.5 million of the first tranche of C$50 million.

Founded in 1875, Davis + Henderson provides innovative programs, technology products, and technology based business services to customers in the financial services industry who offer deposit, lending, insurance and wealth management products to consumers and businesses.

The Note Purchase Agreement provides for the monthly payments of interest only and the principal is repayable in full after 7 years. Net proceeds were used to repay a portion of Davis + Henderson's outstanding credit facilities, for general corporate purposes and to enable the Fund to take advantage of the current low interest rate environment to fix a portion of its debt. The facility will also allow the Fund to continue pursuing strategic growth and acquisition opportunities.

John Robertson, President of IPD, said "we are excited to work with Davis + Henderson to finance their capital requirements. This unique shelf structure will provide the Fund with capital to meet its objectives."

IPD provides funding from the $1.0 billion Integrated Private Debt Fund LPs on behalf of a number of pension funds and other institutional investors. IPD offers fixed rate, investment grade term loans to mid-market companies for such purposes as refinancing existing debt, business expansion, project financing and management buyouts.

IAM is Canada's leading alternative asset management company, with approximately $2.1 billion in assets and committed capital under management in private corporate debt, private equity, managed futures, real estate and retail alternative investments.

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