OCP Credit Strategy Fund Announces Normal Course Issuer Bid
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 07/15/13 -- Onex Credit Partners, LLC, the manager of OCP Credit Strategy Fund (the "Fund"), today announced that the Fund has commenced a Normal Course Issuer Bid to purchase a portion of the outstanding trust units (TSX: OCS.UN) listed on the Toronto Stock Exchange. The Normal Course Issuer Bid has been approved by the Toronto Stock Exchange. The purpose of the Normal Course Issuer Bid is to provide the Fund with a mechanism to decrease the potential spread between the net asset value per unit and the market price of the trust units and to provide enhanced liquidity for the trust units. Under the Normal Course Issuer Bid, the Fund may purchase up to 2,841,833 trust units, representing 10% of the public float of the securities issued and outstanding. All purchases will be made through the facilities and in accordance with the requirements of the Toronto Stock Exchange over a maximum period of 12 months commencing on July 17, 2013, and ending on the earlier of July 16, 2014 or on such date as the Fund completes its purchase under the Normal Course Issuer Bid or on such date as the Fund may otherwise determine. Trust units purchased will be cancelled. The Fund had 28,418,339 trust units issued and outstanding as at July 11, 2013. The Fund will not purchase in any given 30 day period, more than 568,366 trust units in the aggregate, representing 2% of the issued and outstanding trust units as at July 11, 2013. The Fund purchased 373,000 trust units under a Normal Course Issuer Bid within the last 12 months at the weighted average price paid per trust unit of $8.77.
Contacts:
OCP Credit Strategy Fund
Toronto: 647.260.4055 or Toll Free: 1.877.260.4055
Onex Credit Partners, LLC
201.541.2121
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Datum: 15.07.2013 - 09:36 Uhr
Sprache: Deutsch
News-ID 1245404
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Commercial & Investment Banking
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