Premium Global Income Split Fund raises $30 million in overnight share offering

  • Premium Global Income Split Fund announced an overnight offering of Preferred and Class A Shares.
  • The offering comprises 3,322,593 shares and gross proceeds of approximately $30,001,099.95.
  • Closing is expected around September 18, 2026, subject partly to TSX approval.

Premium Global Income Split Fund announced an overnight treasury offering of 1,734,600 Preferred Shares and 1,587,993 Class A Shares for gross proceeds of approximately $30,001,099.95. The shares will continue trading on the Toronto Stock Exchange under PGIC.PR.A and PGIC, respectively. The offering is expected to close on or about September 18, 2026, subject to closing conditions including TSX approval. The fund invests mainly in actively selected large-capitalization global equities and uses a covered call strategy (selling call options on held assets) and, where permitted, cash-covered put options to enhance income and reduce volatility. Preferred Shares pay fixed cumulative preferential monthly distributions of $0.0625, or $0.75 annually, equal to a 7.50% yield on the original $10.00 issue price, while Class A Shares currently pay $0.08 monthly, or $0.96 annually. The fund can invest up to 100% of net assets in other public investment funds, including funds managed by Mulvihill Capital Management Inc., and may hedge foreign-currency exposure against the Canadian dollar. The syndicate was co-led by National Bank Financial Inc. The offering is subject to Canadian prospectus filings and is not registered for sale in the United States.

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