O'Leary Yield Advantaged Convertibles fund offers up to C$250 million

By Melissa Kory

Cleveland, Feb. 1 - O'Leary Funds Management LP said the Yield Advantaged Convertible Debentures fund's initial public offering is up to C$250 million.

The issue price is C$12.00 per unit.

The offering will close on Feb. 18.

The fund is an investment trust governed by Ontario law and was created to provide unitholders with exposure to publicly traded convertible debentures of global and Canadian issuers.

The fund aims to provide unitholders with monthly tax-advantaged distributions consisting initially of returns of capital of C$0.07 per unit, maximize total return for unitholders and preserve capital.

O'Leary filed a final prospectus for the initial public offering with the securities regulatory authorities in each of the provinces of Canada.

The portfolio advisor is Stanton Asset Management Inc.

The fund's syndicate of agents is led by CIBC and includes National Bank Financial Inc., Scotia Capital Inc., BMO Capital Markets, Macquarie Private Wealth Inc., Canaccord Genuity Corp., Raymond James Ltd., Wellington West Capital Markets Inc., HSBC Securities (Canada) Inc., Desjardins Securities Inc., Mackie Research Capital Corp., Manulife Securities Inc. and MGI Securities Inc.

The fund's manager, O'Leary, is based in Montreal.

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