O’Leary Global Income Opportunities Fund completed its initial public offering for aggregate gross proceeds of $102 million, O’Leary Funds Management LP announced Friday.

The IPO consisted of 8.5 million units issued at a price of $12 per unit.

The fund has granted the agents an over-allotment option to acquire up to an additional 1,275,000 units.

The initial monthly cash distribution of 6¢ per unit is payable on April 15, to unitholders of record on March 31.

The fund has been created to invest globally primarily in publicly-traded investment grade corporate bonds, convertible debt securities, preferred shares and dividend-paying equity securities of issuers having market capitalizations of at least $1 billion.

The fund will permit investors to capitalize on the knowledge and capabilities of Stanton Asset Management Inc. and Savtrev, Inc., who will work together to identify securities providing income and the potential for capital appreciation.

The syndicate of agents was co-led by CIBC World Markets Inc. and RBC Capital Markets and includes BMO Capital Markets, Scotia Capital Inc., National Bank Financial Inc., Blackmont Capital Inc., Wellington West Capital Markets Inc., Canaccord Capital Corporation, Dundee Securities Corporation, HSBC Securities (Canada) Inc. and Raymond James Ltd.

IE