CIBC Capital Markets Inc. and a syndicate of agents completes C$338.7M initial public offering issued by PIMCO Canada Corp.

On June 17, 2021, CIBC Capital Markets Inc. and a syndicate of agents in connection with PIMCO Canada Corp. completed an initial public offering of PIMCO Tactical Income Fund for gross proceeds of C$338.7 million. The largest closed-end fund IPO in several years.

The syndicate of Agents was co led by CIBC Capital Markets, National Bank Financial Inc. and RBC Capital Markets, and included BMO Capital Markets, Scotiabank, TD Securities Inc., Canaccord Genuity Corp., Industrial Alliance Securities, Raymond James Ltd., Richardson GMP, Desjardins Securities Inc., Echelon Wealth Partners Inc., Hampton Securities Ltd. and Manulife Securities Incorporated.

McCarthy Tétrault LLP advised the co-agents with a team led by Andrew Armstrong that included Victoria Zed (Business); Gabrielle Richards and Fred Purkey (Tax).