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Transaction/Case Details

Moneda LatAm Fixed Income Fund completes C$50.6 million initial public offering

DATE CLOSED

June 19, 2012

BUSINESS SECTOR

Financial Services

LEAD OFFICE

Toronto

VALUE

50.6 Million CAD


OVERVIEW

On June 19, 2012, Scotia Managed Companies Administration Inc. announced that Moneda LatAm Fixed Income Fund (the "Fund") completed an initial public offering (the "Offering") of 4,350,000 Class A Units and 440,970 Class U Units (collectively, the "Units") of the Fund at a price of C$10.00 per Class A Unit and US$10.00 per Class U Unit for gross proceeds of C$43.5 million and US$4.4 million respectively.

On July 6, 2012, Scotia Managed Companies Administration announced the exercise of the over-allotment option granted to the agents, completing the issuance of 280,000 Class A Units. With the exercise of the over-allotment option, total gross proceeds raised by the Fund are C$46.3 million and US$4.4 million.

The Fund is a closed-end investment fund established as a trust under the laws of the Province of Ontario. The Fund's investment objectives are to: (i) preserve and enhance the net asset value of the Fund; and (ii) provide Unitholders with quarterly tax-advantaged distributions consisting primarily of returns of capital, in each case through exposure by virtue of a forward agreement to a diversified portfolio ("Portfolio") consisting primarily of U.S. dollar-denominated high yield fixed income securities of companies in Latin America.

The syndicate of agents for the Offering is being co-led by Scotiabank, CIBC and RBC Capital Markets and includes National Bank Financial Inc., TD Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., Macquarie Private Wealth Inc., Raymond James Ltd., Dundee Securities Ltd., Manulife Securities Incorporated and Union Securities Ltd. (the "Agents").

McCarthy Tétrault LLP represented Scotia Capital, the term agent, with a team led by Andrew Armstrong.

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