Canadian General Investments, Limited Redeems $75 Million Class A Preference Shares, Series 3 Funded by $75 Million Credit Facility

Friday, June 10, 2016
 
NEWS RELEASE TRANSMITTED BY MARKETWIRED
FOR: CANADIAN GENERAL INVESTMENTS, LIMITED
TSX SYMBOLS: CGI, CGI.PR.D
LONDON STOCK EXCHANGE: CGI
 
Canadian General Investments, Limited Redeems $75 Million Class A Preference Shares, Series 3 Funded by $75 Million Credit Facility
 
TORONTO, CANADA – Canadian General Investments, Limited (“CGI”) today completed the previously announced redemption of its $75,000,000 3.90% Cumulative Redeemable Class A Preference Shares, Series 3. This redemption was in accordance with the terms of the Series 3 shares.
 
The aggregate amount of $75,697,200 (including accrued and unpaid dividends from March 15, 2016 to, but excluding, June 10, 2016) was funded primarily through CGI’s recently announced $75,000,000 secured credit facility with a Canadian chartered bank. The credit facility is a non-revolving, three-year fixed rate facility that bears interest at 2.28% per annum to be paid quarterly.
 
CGI has engaged in a leverage strategy since its first issuance of Class A preference shares in 1998 in an effort to enhance returns to common shareholders.
 
FOR FURTHER INFORMATION PLEASE CONTACT:
Canadian General Investments, Limited
Jonathan A. Morgan
President and CEO
Phone: (416) 366-2931
Fax: (416) 366-2729