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PRESS RELEASE MARCH 25, 2020
Sustainable Infrastructure
DIVIDEND FUND
TSX Symbol : INF.UN
SUSTAINABLE INFRASTRUCTURE DIVIDEND FUND
IPO Raises $80 Million
Middlefield Group, on behalf of Sustainable Infrastructure Dividend Fund (the “Fund”), is pleased to announce that the Fund has completed its initial public offering of 8,000,000 units at a price of $10.00 per unit for gross proceeds of $80 million. The units are listed on the Toronto Stock Exchange under the symbol INF.UN.
The Fund’s investment objectives are to provide holders of units with:
(i) stable monthly cash distributions, and
(ii) enhanced long-term total return through capital appreciation of the Fund’s investment portfolio
through a diversified, actively managed portfolio comprised primarily of dividend paying securities of global issuers focused on, involved in, or that derive a significant portion of their revenue from physical infrastructure assets, which the advisor believes will generate attractive risk-adjusted returns for the Fund due to the tangible, difficult to replicate, long-term nature of such assets and their ability to shape and support global economic activity. In addition, the portfolio will be focused on sustainable infrastructure by investing in securities of issuers whose infrastructure assets the advisor believes have been developed and operated taking into account environmental, social and governance considerations.
The initial target distribution yield for the Fund is 5% per annum based on the original subscription price (or $0.04167 per unit per month or $0.50 per unit per annum).
The syndicate of agents was co-led by CIBC Capital Markets and RBC Capital Markets, and included BMO Capital Markets, Scotiabank, TD Securities Inc., Canaccord Genuity Corp., Industrial Alliance Securities, National Bank Financial Inc., Manulife Securities Incorporated, Raymond James Ltd., Stifel Nicolaus Canada Inc., Middlefield Capital Corporation, Echelon Wealth Partners Inc. and Mackie Research Capital Corporation.
For further information, please visit our website at www.middlefield.com or contact Nancy Tham or Michael Bury in our Sales and Marketing Department at 1.888.890.1868.
Sustainable Infrastructure
DIVIDEND FUND
MIDDLEFIELD LIMITED
CALGARY: 812 Memorial Drive NW, Calgary, Alberta T2N 3C8 TORONTO: First Canadian Place, 58th Floor, P.O. Box 192
Toronto, Ontario M5X 1A6
1.888.890.1868 www.middlefield.com invest@middlefield.com
This offering was 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.
(L to R) JEREMY BRASSEUR, Managing Director, Corporate Finance, DEAN ORRICO, President and Chief Investment Officer and ROB LAUZON, Managing Director and Deputy Chief Investment Officer