On November 15, 2002, Diversified Income Trust II (DIT II), completed an initial public offering of 3,769,214 units at $10 per unit for gross proceeds of $37.7 million. The agents for the offering have an over-allotment option in respect of 565,382 units. DIT II’s investment objectives are to provide unitholders with a stable stream of monthly distributions targeted to be $0.077 per unit (9.25 per cent of the original issue price), and to preserve and potentially enhance the value of the trust’s portfolio in order to return at least the original issue price of $10 per unit to the unitholders upon the termination of the trust. DIT II’s portfolio will consist of units of commercial and industrial income trusts, real estate investment trusts and oil and gas royalty and income trusts. Sentry Select Capital Corp. is manager of DIT II.
National Bank Financial Inc. and CIBC World Markets Inc. co-led the offering, with a syndicate that included RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Capital Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd., Yorkton Securities Inc., Desjardins Securities Inc. and Research Capital Corporation.
Borden Ladner Gervais LLP acted for DIT II, with a team comprised of Paul Findlay, Michael De Cosimo and Daniel Westreich (securities/corporate) and Craig Webster and Kevin Fritz (tax). Blake, Cassels & Graydon LLP acted for the agents, with a team comprised of Jeff Glass, Anoop Dogra and Robyn Keinick (securities/corporate) and Ron Richler (tax).
National Bank Financial Inc. and CIBC World Markets Inc. co-led the offering, with a syndicate that included RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Capital Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd., Yorkton Securities Inc., Desjardins Securities Inc. and Research Capital Corporation.
Borden Ladner Gervais LLP acted for DIT II, with a team comprised of Paul Findlay, Michael De Cosimo and Daniel Westreich (securities/corporate) and Craig Webster and Kevin Fritz (tax). Blake, Cassels & Graydon LLP acted for the agents, with a team comprised of Jeff Glass, Anoop Dogra and Robyn Keinick (securities/corporate) and Ron Richler (tax).
