2028 Investment Grade Bond Trust Files Final Prospectus for an Offering of up to $100 Million

TORONTO, Dec. 11, 2023

TORONTO, Dec. 11, 2023 /CNW/ - Next Edge Capital Corp. ("Next Edge" or the "Manager") is pleased to announce that 2028 Investment Grade Bond Trust (the "Fund") has filed a final prospectus in respect of an initial public offering (the "Offering") of up to a maximum of 10,000,000 Class A Units and/or Class F Units (collectively, the "Units") at a price of $10.00 per Class A Unit and $10.00 per Class F Unit, for a maximum offering size of $100,000,000. The Offering is expected to close on or about December 21, 2023. The Toronto Stock Exchange has conditionally approved the listing of the Class F Units under the symbol "IGBT.UN".

The Fund has been created to acquire a portfolio comprised primarily of debt securities of Canadian companies. The Manager has retained Ridgewood Capital Asset Management Inc. to provide portfolio management services to the Fund.

The Fund's investment objectives are to: (i) preserve capital; and (ii) pay quarterly cash distributions, by investing primarily in corporate debt securities. At least 75% of the portfolio will be invested in investment grade securities and up to 25% of the portfolio may be invested in high yield debt securities. The portfolio is expected to be comprised primarily of eligible debt securities that have an average maturity of five (5) years or less and it is expected that the securities generally will be held by the Fund until their respective maturities. Notwithstanding the foregoing, the Fund may sell or transfer eligible debt securities prior to their maturity.

The Fund will not have a fixed quarterly distribution amount but intends to make cash distributions quarterly. The Fund's quarterly distributions are targeted to be approximately $0.125 per Unit per quarter for the Fund's first four quarters of operation or $0.50 for the Fund's first year of operation.¹ The initial cash distribution is expected to be payable to unitholders of record on March 31, 2024.

The Class F Units are designed for fee-based and/or institutional accounts and the Class A Units are available to all investors but will not be listed on a stock exchange. The Class A Units offered under the prospectus will be reclassified as Class F Units immediately following the closing of the Offering based on their respective NAV per Unit.

The syndicate of agents for the Offering is being led by National Bank Financial Inc. and includes Scotiabank, CIBC Capital Markets, RBC Capital Markets, BMO Capital Markets, Canaccord Genuity Corp., Wellington-Altus Private Wealth Inc., iA Private Wealth Inc., Raymond James Ltd., Richardson Wealth Limited, Desjardins Securities Inc., Echelon Wealth Partners Inc., Independent Trading Group (ITG) Inc., Manulife Securities Incorporated, and Research Capital Corporation (collectively, the "Agents").