NB Global Corporate Income Trust - Entitlement and Shortfall Offer
NB Global Corporate Income Trust - Entitlement and Shortfall Offer

Patersons have been appointed Co-Manager in the Shortfall Offer of the upcoming issue of NB Global Corporate Income Trust.

The Offer

NB Global Corporate Income Trust is seeking to raise up to $476.3 million through an Entitlement and Shortfall Offer with the issue of up to 238.15 million units at subscription price of $2.00 per unit. The Trust’s investment objective is to provide its Unitholders with a consistent and stable income stream paid via monthly distributions, while achieving an attractive level of total return (income plus capital appreciation) over a full market cycle.

Key Features

  • Application Price per Unit: $2.00
  • Target Distribution Rate: 5.25% p.a (net of fees and expenses) on the NTA per unit as at 1 July 2019
  • Distributions are monthly with first distribution expected to be paid in mid-August 2019
  • Management Fee: 0.85% p.a
  • ASX code: NBI
  • Application minimum: 2,500 units ($5,000.00) and thereafter, increment of 500 units will apply
  • All upfront fees and cost paid by Neuberger Berman
  • Settlement timetable: TBC
 
 

Warning: This report is intended to provide general securities advice, and does not purport to make any recommendation that any securities transaction is appropriate to your particular investment objectives, financial situation or particular needs. Prior to making any investment decision, you should assess, or seek advice from your Adviser, on whether any relevant part of this report is appropriate to your financial circumstances and investment objectives.