The offering is expected to close on Tuesday, May 7, 2013, subject to customary closing conditions. The Fund expects to use the proceeds from the offering to redeem the remaining outstanding shares of the Fund’s 6.625% Series A Cumulative Preferred Shares (the "Series A Preferred Shares"). Amounts in excess of the redemption amount of the Series A Preferred Shares are expected to be used for investment purposes consistent with the Fund’s investment objectives.
The Series B Preferred Shares are rated A1 by Moody’s Investors Service, Inc. The Series B Preferred Shares are perpetual, non-callable for five years, and will be issued at $25.00 per share. Dividends are scheduled to be paid quarterly beginning on June 26, 2013.
The Series B Preferred Shares are expected to commence trading on the NYSE MKT under the symbol "GGN Pr B" within thirty days of the date of issuance.
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The Board of Trustees would like to thank all participants in the offering, which was led by Citigroup Global Markets Inc. and BofA Merrill Lynch. Investors are advised to carefully consider the investment objectives, risks, charges and expenses of the Fund before investing. The preliminary prospectus supplement dated May 2, 2013, the accompanying prospectus dated April 10, 2013, and the Statement of Additional Information dated April 10, 2013, each of which have been filed with the Securities and Exchange Commission, contain this and other information about the Fund and should be read carefully before investing.
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