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DoubleLine Income Solutions Trust completes C$80 million initial public offering

Date Closed

November 22, 2013

Lead Office

Toronto

Value

80.00 Million CAD

On November 22, 2013, DoubleLine Income Solutions Trust (the Fund) announced the closing of the initial public offering of the Fund’s Class A Units and Class U Units. The Fund raised gross proceeds in excess of C$80 million, including C$72.5 million from the sale of 7,250,000 Class A Units and US$7,685,400 from the sale of 768,540 Class U Units. The Fund granted the agents an over-allotment option, exercisable for a period of 30 days from the closing date, to purchase up to an additional 1,087,500 Class A Units.

The Class A Units are listed on the Toronto Stock Exchange under the symbol DSL.UN. The Class U Units are designed for investors wishing to make their investment in US dollars. They will not be listed on a stock exchange, but will be convertible into Class A Units on a monthly basis.

The Fund was established to provide holders of Units with an investment in a diversified portfolio of investments selected for their potential to provide high current income, growth of capital, or both. The Fund may invest in debt securities and other income-producing investments based on the assessment of DoubleLine Capital LP, the Fund’s portfolio manager, of the potential returns and risks of different sectors of the debt security markets and of particular securities. The Fund’s primary investment objective is to seek current income. Its secondary objective is to seek capital appreciation in each case by investing in the portfolio.

BMO Nesbitt Burns is the promoter of and an agent in the offering, and will act as the manager of the Fund. The syndicate of agents was co-led by BMO Capital Markets, RBC Capital Markets, CIBC, Scotiabank, National Bank Financial and TD Securities, and includes GMP Securities LP, Raymond James, Canaccord Genuity, Macquarie Private Wealth, Desjardins Securities, Mackie Research Capital and Manulife Securities.

DoubleLine Capital, headquartered in Los Angeles, is an investment management firm and registered investment advisor.

McCarthy Tétrault LLP represented DoubleLine Income Solutions Trust and BMO Nesbitt Burns with a team led by Andrew Armstrong, and including Michael Eldridge, Nigel Johnston, Hélène Lafleur and Lambert Perron.

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