TORONTO, ONTARIO–(Marketwired – June 12, 2017) –
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
ISL LOAN TRUST (the “Trust“) announced today that LOGiQ Asset Management Ltd. (TSX:LGQ) (the “Manager“), the manager of the Trust, has decided to terminate the Trust on July 12, 2017 or as soon as practicable after such date.
The Manager has previously announced its intention to complete the merger (the “Merger“) of Voya High Income Floating Rate Fund and Voya Floating Rate Senior Loan Fund, resulting in Voya Floating Rate Senior Loan Fund being the continuing fund (the “Continuing Fund“). Upon receipt of all necessary approvals, it is expected that the Merger will be implemented on or about July 14, 2017. The Continuing Fund currently gains exposure to a portfolio held by the Trust. As part of the Merger, the portfolio will be held directly by the Continuing Fund. The Manager believes is in the best interests of unitholders of the Trust (“Unitholders“) to terminate the Trust in connection with the Merger.
In accordance with the Trust’s declaration of trust, the Manager may, in its discretion, on 30 days’ notice to Unitholders, terminate the Trust without the approval of Unitholders if, in the opinion of the Manager, it would be in the best interests of the Unitholders to terminate the Trust. Upon termination, following the conversion of the assets of the Trust to cash, and the satisfaction of, or provision for, all liabilities of the Trust, the net assets of the Trust will be distributed to Unitholders on a pro rata basis based on the net asset value of the classes of Units. Following such distribution, the Trust will terminate.
For further information, please contact your financial advisor, call LOGiQ’s Sales and Marketing support line at 416-583- 2300 (toll-free at 1-800-513-3868), or visit our website at www.logiqasset.com.
The Manager is a wholly-owned subsidiary of LOGiQ Asset Management Inc. (TSX:LGQ). LOGiQ Asset Management Inc. is a diversified asset management company with a suite of retail mutual funds, closed end funds, hedge funds and segregated institutional funds. LOGiQ Asset Management is headquartered in Toronto.
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect”, “intend”, “will”, “estimate” and similar expressions to the extent they relate to the Trust and the Manager. The forward-looking statements are not historical facts but reflect the current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Trust and the Manager believe that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Neither the Trust nor the Manager undertake any obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
416-583- 2300 (toll-free at 1-800-513-3868)
www.logiqasset.com