TORONTO, ON--(Marketwired - February 06, 2014) - PIMCO Canada Corp. (the "Manager") announced that on January 31, 2014 a preliminary prospectus for PIMCO Global Income Opportunities Fund (the "Fund") was filed and receipted by the securities regulatory authorities of all the Canadian provinces and territories for an initial public offering (the "Offering") of Class A Units at a price of $10 per Class A Unit.
The Fund has been created to invest in an actively managed portfolio (the "Portfolio") comprised primarily of fixed-income securities selected from multiple global fixed-income sectors. The Manager has retained Pacific Investment Management Company, LLC, ("PIMCO"), to provide investment management services to the Fund.
The Fund's investment objectives are to:
(a) provide unitholders with monthly cash distributions
(b) maximize total return to unitholders through distributions and capital appreciation; and
(c) preserve capital
The Fund will not have a fixed monthly distribution amount but intends to make cash distributions monthly. The Fund's monthly distributions are initially targeted to be 6.5% per annum on the original subscription price (or $0.5417 per Class A Unit per month or $0.65 per annum).
The syndicate of Agents is being co-led by RBC Capital Markets, CIBC, TD Securities and National Bank Financial, and includes Scotiabank, BMO Capital Markets, Canaccord Genuity Corp., GMP Securities L.P., Manulife Securities Inc., Raymond James Ltd., Desjardins Securities, and Mackie Research Capital Corp.
A preliminary prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in each of the provinces and territories of Canada. The prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from any one of the agents noted above. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.
The Units have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States, and may not be offered or sold, directly or indirectly, in the United States (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable securities laws of any state of the United States or in reliance on an exemption from such registration requirements. This news release does not constitute an offer to sell, or a solicitation of an offer to buy any of the Fund's securities referred to herein in the United States.
PIMCO is a leading global investment management firm, with offices in 13 countries throughout North America, Europe and Asia. PIMCO had approximately U.S.$1.9 trillion in assets under management as of December 31, 2013. Founded in 1971, PIMCO offers a wide range of innovative solutions to help millions of investors worldwide meet their needs. Our goal is to provide attractive returns while maintaining a strong culture of risk management and long-term discipline. PIMCO is owned by Allianz S.E., a leading global diversified financial services provider.
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