TORONTO and MONTREAL, Oct. 7, 2015 /CNW Telbec/ - Senior Secured Floating Rate Loan Fund (TSX: FRL.UN) (the "Fund") announced today acceptance by the Toronto Stock Exchange (the "TSX") of the Fund's Notice of Intention to make a Normal Course Issuer Bid (the "NCIB").
Pursuant to the NCIB, the Fund proposes to purchase through the facilities of the TSX, from time to time, if it is in the best interests of the Fund, up to 1,059,085 Class A units ("Units") of the Fund, representing approximately 10% of the public float. As of September 30, 2015, the Fund had 10,590,857 issued and outstanding Units. The Fund will not purchase in any given 30-day period, in aggregate, more than 211,817 Units, being 2% of the issued and outstanding Units as of September 30, 2015.
Fiera Capital Corporation (TSX: FSZ) ("Fiera Capital"), the manager of the Fund, believes that such purchases are in the best interests of the Fund. All purchases will be made through the facilities of the TSX in accordance with its rules and policies. All Units purchased by the Fund pursuant to the NCIB will be cancelled. The NCIB will commence on October 9, 2015 and will expire on October 8, 2016.
About Fiera Capital Corporation
Fiera Capital Corporation is a leading North American independent asset management firm listed on the Toronto Stock Exchange. The firm offers a wide range of traditional and alternative investment solutions, including depth and expertise in asset allocation. At June 30, 2015, Fiera Capital's AUM was approximately CAD$90 billion. The firm delivers distinctive investment management capabilities to institutional, private wealth and retail clients in Canada. In the U.S., asset management services are provided by its U.S. affiliates, which are investment advisers registered with the U.S. Securities and Exchange Commission. For more information, visit www.fieracapital.com.
SOURCE Fiera Capital Corporation