TORONTO, CANADA–(Marketwired – June 7, 2016) – Canadian General Investments, Limited (“CGI”) (TSX:CGI)(TSX:CGI.PR.C)(TSX:CGI.PR.D)(LSE:CGI) announced today that it has entered into an agreement with a Canadian chartered bank for a $75 million three-year fixed rate secured credit facility. Proceeds from the facility will be used to fund the previously announced June 10, 2016 redemption of its $75 million 3.90% Cumulative Redeemable Class A Preference Shares, Series 3 (TSX symbol: CGI.PR.C), and on an ongoing basis as part of CGI’s overall leverage strategy.
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.
Canadian General Investments, Limited
Jonathan A. Morgan
President and CEO
(416) 366-2931
(416) 366-2729 (FAX)
[email protected]
www.canadiangeneralinvestments.ca
Jonathan A. Morgan
President and CEO
(416) 366-2931
(416) 366-2729 (FAX)
[email protected]
www.canadiangeneralinvestments.ca
