The O’Leary Advantaged Tactical Global Corporate Bond Fund successfully issued an additional 600,000 trust units and 600,000 warrants on July 14 as a syndicate of agents exercised their over-allotment option. Total gross proceeds are now $115.2 million, O’Leary Funds Management LP said Wednesday.

Trust units (TSX:OCB.un) and warrants (TSX:OCB.wt) are trading on the Toronto Stock Exchange.

The initial monthly cash distribution of 6¢ per trust unit is anticipated to be payable on August 13 to unitholders of record on July 30. Additionally, each warrant entitles the holder to purchase one trust unit at a subscription price of $12 on or before 17:00 ET on May 31, 2011.

The fund is an investment trust with objectives to: (i) preserve capital; and (ii) provide unit holders with tax advantaged monthly distributions initially targeted to be $0.06 per trust unit, representing an annual yield of 6% based on the $12.00 per unit issue price.

The fund was created to provide investors with the opportunity to reallocate their Canadian fixed income investments into a portfolio comprised of corporate fixed-rate and floating-rate debt, corporate fixed-to-floating-rate debt, and convertible debt offered by global issuers that Stanton Asset Management Inc., which provides investment advisory services to the fund, believes the portfolio will provide investors with attractive yield to maturity; more stability than a portfolio of global equity securities; and capital preservation in a period of rising interest rates and gradual economic recovery.

On or before August 1, 2011, the fund will become an open-end mutual fund, the trust units will be delisted and become redeemable at their net asset value on a daily basis.

The syndicate of agents is co-led by CIBC World Markets Inc. and RBC Capital Markets and includes BMO Capital Markets, Scotia Capital Inc., Canaccord Genuity Corp., National Bank Financial Inc., HSBC Securities (Canada) Inc., Macquarie Capital Markets Canada Ltd., Raymond James Ltd., Wellington West Capital Markets Inc., Dundee Securities Corporation, GMP Securities L.P., Desjardins Securities Inc., Manulife Securities Inc.

IE