Financial 15 Split Corp. II Announces Successful Overnight Offering

Financial 15 Split Corp. II (the "Company") is pleased to announce it has
completed the overnight marketing of up to 1,700,000 Preferred Shares and up to
1,700,000 Class A Shares. Total proceeds of the offering are expected to be
approximately $30.6 million. The Company has granted the dealers an
overallotment of 255,000 units if exercised, bringing the total proceeds to
$35.2 million. 


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


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% on the issue price and the Class A Shares will be offered at a price
of $8.00 per Class A Share to yield 15% on the issue price. The closing price on
the TSX of each of the Preferred Shares and Class A Shares on July 22, 2014 was
$10.18 and $8.46, respectively.


The net proceeds of the secondary offering will be used by the Company to invest
in a 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.         
                         Corporation                                       
Canadian Imperial Bank   Sun Life Financial         Goldman Sachs Group    
of Commerce              Services of Canada Inc.    Inc.                   
Royal Bank of Canada     Great-West Lifeco Inc.     JP Morgan Chase & Co.  
The Toronto-Dominion     CI Financial Corp.         Wells Fargo & Co.      
Bank                                                                       



The Company's investment objectives are:

Preferred Shares:



i.  to provide holders of Preferred Shares with 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 2019; and 
ii. on or about the termination date of December 1, 2019 (subject to further
    5 year extensions thereafter), to pay the holders of the Preferred
    Shares $10 per Preferred Share. 



Class A Shares:



i.  to provide holders of the Class A Shares with regular monthly cash
    distributions in an amount to be determined by the Board of 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, 2019 (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 Class A Shares and
the Preferred 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Financial 15 Split Corp. II
Investor Relations
416-304-4443
Toll free at 1-877-4-Quadra (1-877-478-2372)
www.financial15.com

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