Financial 15 Split Corp. Announces Successful Overnight Offering

TORONTO, ONTARIO -- (Marketwired) -- 11/20/15 -- Financial 15 Split Corp. (the "Company") is pleased to announce it has completed the overnight marketing of up to 3,335,474 Preferred Shares and up to 2,502,700 Class A Shares of the Company. Total proceeds of the offering are expected to be approximately $58.1 million.

The offering is being co-led by National Bank Financial Inc., CIBC, RBC Capital Markets, Scotia Capital Inc., and will also include BMO Capital Markets, GMP Securities L.P., Canaccord Genuity Corp., Dundee Securities, Raymond James, Desjardins Securities Inc., Mackie Research Capital Corporation and Manulife Securities Incorporated.

The sales period of the overnight offering has now ended.

The Preferred Shares will be offered at a price of $10.00 per Preferred Share to yield 5.25% and the Class A Shares will be offered at a price of $9.90 per Class A Share to yield 15.24%. The closing price on the TSX of each of the Preferred Shares and the Class A Shares on November 19, 2015 was $10.07 and $10.40, respectively.

The net proceeds of the offering will be used by the Company to invest in an actively managed, high quality portfolio consisting of 15 financial services companies made up of Canadian and U.S. issuers as follows:

Bank of Montreal            National Bank of Canada  Bank of America Corp.
The Bank of Nova Scotia     Manulife Financial       Citigroup Inc.
Canadian Imperial Bank of   Corporation              Goldman Sachs Group
 Commerce                   Sun Life Financial       Inc.
Royal Bank of Canada        Services of Canada Inc.  JP Morgan Chase & Co.
The Toronto-Dominion Bank   Great-West Lifeco Inc.   Wells Fargo & Co.
                            CI Financial Corp.

The Company's investment objectives are:

Preferred Shares:

i.  to provide holders of the Preferred Shares with fixed, cumulative
    preferential monthly cash dividends currently in the amount of 5.25%
    annually, to be set by the Board of Directors annually subject to a
    minimum of 5.25% until 2020; and

ii. on or about the termination date, currently December 1, 2020 (subject to
    further 5 year extensions thereafter), to pay the holders of the
    Preferred Shares $10.00 per Preferred Share.

Class A Shares:

i.  to provide holders of the Class A Shares with regular monthly cash
    dividends in an amount to be determined by the Board of the Directors;
    and

ii. to permit holders to participate in all growth in the net asset value of
    the Company above $10 per Unit, by paying holders on or about the
    termination date of December 1, 2020 (subject to further 5 year
    extensions thereafter) such amounts as remain in the Company after
    paying $10 per Preferred Share.

The Company will today file an amended and restated preliminary short form prospectus, containing important information relating to the Preferred Shares and Class A Shares, with securities commissions or similar authorities in all provinces of Canada. The amended and restated preliminary short form prospectus is still subject to completion or amendment. Copies of the amended and restated preliminary short form prospectus may be obtained from your registered financial advisor using the contact information for such advisor, or from representatives of the underwriters listed above. Investors should read the prospectus before making an investment decision. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.

Contacts:
Financial 15 Split Corp.
Investor Relations
416-304-4443 or Toll free at 1-877-4-Quadra (1-877-478-2372)
www.financial15.com

Source: Financial 15 Split Corp.

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