Calamos Dynamic Convertible and Income Fund prices USD 28 million private placement of mandatory redeemable preferred shares

Calamos Dynamic Convertible and Income Fund completed a private placement of USD 28 million of Series I mandatory redeemable preferred shares.

• The shares carry a 3-year mandatory redemption date of Aug. 24, 2029.
• The initial monthly cash dividend is set at 6.03%, subject to adjustment under certain circumstances.
• KBRA assigned an AA- rating to the Series I preferred shares.
• Proceeds add financial leverage for the fund.