2028 Investment Grade Bond Trust
$100,000,000.00
10,000,000.00 Units at $10.00
Initial Public Offering - Closed - Thursday, December 21, 2023
Company Description
2028 Investment Grade Bond Trust will seek to:preserve capital and pay quarterly cash distributions, by investing primarily in corporate debt securities. To achieve its investment objectives, the Fund will acquire a portfolio comprised primarily of debt securities of Canadian companies. At least 75% of the portfolio will be invested in investment grade securities and up to 25% of the portfolio may be invested in high yield debt securities. The portfolio is expected to be comprised primarily of erligible debt securities that have an average maturity of five (5) years or less and it is expected that the securities generally will be held by the Fund until their respective maturities. The Fund has a five-year term and is expected to be terminated on or about March 31, 2028. Next Edge Capital Corp. is the investment fund manager. Next Edge is also the trustee of the Fund. The Manager has retained Ridgewood Capital Asset Management Inc. to provide portfolio management services to the Fund.
| Address: |
1 Toronto Street, Suite 200, Torontoi, Ontario, M5C2V6 Canada |
|---|---|
| Phone Number: | 416 775-3600 |
| Fax Number: | |
| Website: |
| Industry: | Structured Products |
|---|---|
| Closing Date: | Thursday, December 21, 2023 |
| 1st Day of Trading: | Thursday, December 21, 2023 |
| Primary Symbol: | IGBT |
| Exchange: | Toronto |
Proceeds
The net proceeds of the offering will be used to invest in accordance with the Fund’s investment objectives and policies.
| Gross Proceeds: | $100,000,000.00 |
|---|---|
| Underwrting Fees: | $2,150,000.00 |
| Expense Offering: | $500,000.00 |
| Net Proceeds: | $97,350,000.00 |
| Lead Underwriter: | National Bank Financial Inc. |
|---|---|
| Other Underwriter(s): |
RBC Dominion Securities Inc. CIBC World Markets Inc. BMO Nesbitt Burns Inc. Scotia Capital Inc. Raymond James Ltd. Canaccord Genuity Corp. Wellington-Altus Private Wealth Inc. Richardson Wealth Ltd iA Private Wealth Inc. |
Performance
| 1 day | 1 week | 1 month | 6 months | Inception | |
|---|---|---|---|---|---|
| Recent Performance | 0.38 % | 0.19 % | 0.85 % | 0.28 % | 6.40 % |
| Post IPO Performance | 0.00 % | -0.50 % |
The content of this page is transmitted strictly for informational purposes. Investments must be selected in accordance with the investor's respective objectives. Desjardins Online Brokerage does not issue any recommendations or endorsements concerning any particular product, its potential value or appropriateness, or any specific strategy. It is highly recommended to read the prospectus before making any type of investment.