LOGiQ Asset Management Ltd.

LOGiQ Asset Management Ltd.

July 24, 2017 11:46 ET

Voya Floating Rate Senior Loan Fund Announces Completion of Merger

TORONTO, ONTARIO--(Marketwired - July 24, 2017) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

LOGiQ Asset Management Ltd., the manager (the "Manager") of Voya Floating Rate Senior Loan Fund is pleased to announce that the previously announced merger (the "Merger") of Voya High Income Floating Rate Fund (the "Terminating Fund") and Voya Floating Rate Senior Loan Fund, resulting in Voya Floating Rate Senior Loan Fund (the "Continuing Fund") being the continuing fund, as contemplated in the management information circular dated March 28, 2017, was completed on July 21, 2017.

Pursuant to the Merger, each Class A unitholder of the Terminating Fund received 0.85720 Class A units of the Continuing Fund for each Class A unit held and each Class U unitholder of the Terminating Fund received 0.96336 Class U units of the Continuing Fund for each Class U unit held. A total of 2,014,901 Class A units and 123,454 Class U units were issued by the Continuing Fund in connection with the Merger. The exchange ratios for the units were calculated based on the relative net asset value of the units of the Continuing Fund and of the Terminating Fund as at the close of trading on July 20, 2017. Fractional units of the Continuing Fund will not be issued and all resulting fractional interests were rounded down to the nearest whole number.

The Continuing Fund has acquired substantially all of the assets and assumed all of the liabilities of the Terminating Fund. The Continuing Fund previously gained exposure to a portfolio held by ISL Loan Trust. Prior to the Merger, the Manager also terminated ISL Loan Trust as of the close of business on July 18, 2017 so that the portfolio is now held directly by the Continuing Fund.

The Class A Units of the Continuing Fund are listed on the TSX under the symbol ISL.UN. The Class U Units of the Continuing Fund are listed on the TSX under the symbol ISL.U. The Class A units of the Terminating Fund were de-listed from the Toronto Stock Exchange at the close of business on July 21, 2017.

For further information, please contact your financial advisor, call LOGiQ's Sales and Marketing support line at 416-583- 2300 (toll-free at 1-800-513-3868), or visit our website at www.logiqasset.com.

The Manager is a wholly-owned subsidiary of LOGiQ Asset Management Inc. (TSX:LGQ). LOGiQ Asset Management Inc. is a diversified asset management company with a suite of retail mutual funds, closed end funds, hedge funds and segregated institutional funds. LOGiQ Asset Management is headquartered in Toronto.

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will", "estimate" and similar expressions to the extent they relate to the funds and the Manager. The forward-looking statements are not historical facts but reflect the current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the funds and the Manager believe that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Neither the funds nor the Manager undertake any obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

Contact Information

  • LOGiQ's Sales and Marketing support line
    416-583-2300 (toll-free at 1-800-513-3868)
    www.logiqasset.com