Toronto-based RBC Global Asset Management Inc. (RBCGAM) has announced final details regarding the maturity date of its RBC Target 2018 Corporate Bond Index ETF.
As previously announced, the ETF will mature effective at the close of business on Friday, Nov. 16, RBC GAM said in a news release.
In anticipation of its maturity, subscriptions for units will no longer be accepted after the close of business Friday, Sept. 14.
Redemption requests will be accepted until the close of business on Thursday, Nov. 8. The ETF is anticipated to be voluntarily delisted from the TSX following the close of business on or about Wednesday, Nov. 14. All units still held by investors following the delisting will be subject to mandatory redemption on the maturity date.
Investors have the option to either invest the proceeds into a subsequent maturity of an RBC Target Maturity Corporate Bond ETF or to use the proceeds in a ladder strategy to help manage interest rate and reinvestment risk, the firm said.
The RBCGAM family of Target Maturity Corporate Bond ETFs includes seven ETFs with maturities ranging from 2019 to 2025.