PIMCO Global Income Opportunities Fund Announces Exercise of Over-Allotment Option
08 April 2014 - 2:39PM
Marketwired
PIMCO Global Income Opportunities Fund Announces Exercise of
Over-Allotment Option
Not for Distribution to United States Newswire Services or for
Dissemination in the United States
TORONTO, ON--(Marketwired - Apr 8, 2014) - PIMCO Canada Corp.
(the "Manager") is pleased to announce that PIMCO Global Income
Opportunities Fund (the "Fund") (TSX: PGI.UN) has issued an
additional 500,000 Class A Units of the Fund, at a price of $10 per
Class A Unit, for gross proceeds of C$5,000,000, pursuant to the
agents' exercise of the over-allotment option. In total, the Fund
has issued 69,000,000 Class A Units pursuant to its initial
offering, yielding gross proceeds of C$690,000,000.
The Class A Units are listed
on the Toronto Stock Exchange under the symbol PGI.UN.
The Fund has been created to
invest in an actively managed portfolio comprised primarily of
fixed-income securities selected from multiple global fixed-income
sectors. The Manager has retained Pacific Investment Management
Company, LLC, ("PIMCO"), to provide investment management services
to the Fund.
The Fund's investment
objectives are to:
(a) provide unitholders with monthly cash distributions; (b)
maximize total return to unitholders through distributions and
capital appreciation; and (c) preserve capital.
The Fund will not have a fixed
monthly distribution amount but intends to make cash distributions
monthly. The Fund's monthly distributions are initially targeted to
be 6.5% per annum on the original subscription price (or $0.05417
per Class A Unit per month or $0.65 per annum).
The syndicate of Agents was
co-led by RBC Capital Markets, CIBC, TD Securities and National
Bank Financial, and included Scotiabank, BMO Capital Markets,
Canaccord Genuity Corp., GMP Securities L.P., Manulife Securities
Inc., Raymond James Ltd., Desjardins Securities, and Mackie
Research Capital Corp.
The Units have not been
and will not be registered under the United States Securities Act
of 1933, as amended (the "U.S. Securities Act"), or the securities
laws of any state of the United States, and may not be offered or
sold, directly or indirectly, in the United States (as defined in
Regulation S under the U.S. Securities Act) unless registered under
the U.S. Securities Act and applicable securities laws of any state
of the United States or in reliance on an exemption from such
registration requirements. This news release does not constitute an
offer to sell, or a solicitation of an offer to buy any of the
Fund's securities referred to herein in the United States.
About PIMCO
PIMCO is a leading global
investment management firm, with offices in 12 countries throughout
the Americas, Europe and Asia. PIMCO had approximately U.S.$1.9
trillion in assets under management as of December 31, 2013.
Founded in 1971, PIMCO offers a wide range of innovative solutions
to help millions of investors worldwide meet their needs. Our goal
is to provide attractive returns while maintaining a strong culture
of risk management and long-term discipline. PIMCO is owned by
Allianz S.E., a leading global diversified financial services
provider.
The offering of Class A Units is only made by prospectus. The
prospectus contains important detailed information about the
securities being offered. Copies of the prospectus may be obtained
from a registered representative of any of the Dealers listed in
the prospectus. Investors should read the prospectus before making
an investment decision. Commissions, management fees and expenses
all may be associated with an investment in the Class A Units. The
Class A Units are not guaranteed, their value may change frequently
and past performance may not be repeated. For more information,
please visit our web site at www.pimco.ca.
Contact: Agnes Crane PIMCO - Media Relations Phone: +212
739.4212
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