Canadian General Investments, Limited Enters Into Prime Brokerage Services Agreement
TORONTO, Canada, May 12, 2021 (GLOBE NEWSWIRE) — Canadian General Investments, Limited (TSX: CGI; TSX: CGI.PR.D; LSE: CGI) (CGI or the Company) announced today that it has entered into a prime brokerage services agreement with a Canadian chartered bank. Margin borrowing of $100 million under this new facility has been used to extinguish the $100 million borrowed under a one-year secured non-revolving term credit facility that was scheduled to mature on May 12, 2021. Proceeds will continue to be used 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: (416) 366-2931
Fax: (416) 366-2729