Enters Into $75 Million Credit Facility

RNS Number : 5131A

Canadian General Investments Ld

07 June 2016

 

NEWS RELEASE TRANSMITTED BY MARKETWIRED

FOR: CANADIAN GENERAL INVESTMENTS, LIMITED

TSX SYMBOLS: CGI, CGI.PR.C, CGI.PR.D

LONDON STOCK EXCHANGE: CGI

June 7, 2016

Canadian General Investments, Limited Enters Into $75 Million Credit Facility

TORONTO, CANADA - Canadian General Investments, Limited ("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.

FOR FURTHER INFORMATION PLEASE CONTACT:

Canadian General Investments, Limited

Jonathan A. Morgan

President and CEO

Phone: [phone]

Fax: [phone]

e-mail: [e-mail]

website: www.canadiangeneralinvestments.ca

 

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