Subject: OFR
E Split Corp. Files Final Prospectus Maximum $200 Million - Closing June 29, 2018
CALGARY, June 18, 2018 /CNW/ - Middlefield Group, on behalf of E Split Corp. (the "Company"), is pleased to announce that it has filed a final prospectus in relation to an initial public offering of class A shares and preferred shares. The maximum amount of the offering is $200 million.
The Company will invest in common shares of Enbridge Inc., a North American oil and gas pipeline, gas processing and natural gas distribution company.
The Company's investment objectives for the:
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Class A shares are to provide holders with: | ||
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(i) |
non-cumulative monthly cash distributions; and | |
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(ii) |
the opportunity for capital appreciation through exposure to the portfolio | |
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Preferred shares are to: | ||
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(i) |
provide holders with fixed cumulative preferential quarterly cash distributions; and | |
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(ii) |
return the original issue price of $10.00 to holders upon maturity | |
The initial target distribution yield for the class A shares is 8% per annum based on the original subscription price (or $0.10 per month or $1.20 per annum).
The initial target distribution yield for the preferred shares is 5.25% per annum based on the original subscription price (or $0.13125 per quarter or $0.525 per annum).
Middlefield Capital Corporation, the advisor, will provide investment management advice to the Company.
The syndicate of agents is being co-led by CIBC Capital Markets and RBC Capital Markets, and includes BMO Capital Markets, Scotiabank, TD Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., National Bank Financial Inc., Raymond James Ltd., Industrial Alliance Securities, Manulife Securities Incorporated, Desjardins Securities Inc., Mackie Research Capital Corporation, and Middlefield Capital Corporation.
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 your IIROC registered financial advisor using the contact information for such advisor. Investors should read the prospectus before making an investment decision.
SOURCE E Split Corp.
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