Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
First Trust MLP and Energy Income Fund
Baird served as a co-lead manager in this offering
First Trust Energy Income and Growth Fund (NYSE AMEX: FEN) (the “Fund”) recently completed a follow-on offering of 2,400,000 shares of its common stock at a price of $30.50 per share, generating gross proceeds of approximately $73.2 million. The Fund intends to invest the net proceeds from the offering to acquire portfolio securities in pursuit of its investment objectives and policies and for general corporate purposes.
The Fund is a non-diversified, closed-end management investment company which commenced investment operations in June 2004. The Fund’s investment objective is to seek a high level of after-tax total return with an emphasis on current distributions paid to shareholders. The Fund seeks to achieve its objective by investing primarily in master limited partnerships and related public entities in the energy sector.