Brompton VIP Income Trust Completes IPO

Brompton VIP Income Trust completed its initial public offering of 9.6 million trust units, on February 19, 2002, for total proceeds of $96 million. The trust is designed to provide unitholders with monthly distributions initially targeted at $0.08125 per trust unit, which represents a cash on cash distribution of 9.75 per cent per annum, based upon the initial issue price of $10 per unit through investing in high-income securities, including units of royalty trusts, income funds, real estate investment trusts and high-yield debt.

Brompton was represented by Lawrence Chernin, Fraser McDonald, Ramandeep Grewal and Yvette Morelli of Goodman and Carr LLP. The lead underwriter was Raymond James Ltd., and the underwriting group included BMO Nesbitt Burns Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., National Bank Financial Inc., HSBC Securities (Canada) Inc., Yorkton Securities Inc., Brompton Securities Limited, Desjardins Securities Inc., Dundee Securities Corporation and Research Capital Corp. The underwriters were represented by Freddy Pletcher and Dario Fracca of Borden Ladner Gervais LLP.


Fred R. Pletcher W. Fraser McDonald Ramandeep Grewal Lawrence S. Chernin