Toronto-based Connor, Clark & Lunn Capital Markets Inc. Tuesday announced the exchange ratio in connection with the merger of Connor, Clark & Lunn Real Return Income Fund (TSX:RRB.UN) and ING Floating Rate Senior Loan Fund.

Pursuant to the merger, each holder of RRB units will automatically receive approximately 0.732842 Class A units of ING (TSX:ISL.UN) for each RRB unit held.

The merger is effective today. Trading of RRB units will be halted at the opening of trading and will be delisted at the close of business. Unitholders of RRB are not required to take any action in order to become unitholders of ING.