Highland Opportunities and Income Fund Launches $100 M Buyback with $20 M Immediate Deployment
HFRO•Highland Opportunities and Income Fund board approved a $100 million share repurchase program through June 2028, deploying $20 million immediately. Open-market buybacks aim to close the discount to NAV and enhance long-term shareholder value.
1. Board Authorizes $100 Million Repurchase Program
The Fund's Board of Trustees approved an open-market share repurchase program authorizing up to $100 million of common share purchases over the next two years, replacing the prior $100 million program that expired in 2025.
2. Initial $20 Million Deployment Plan
Upon commencement, the Fund plans to deploy approximately $20 million of the authorized $100 million, subject to market conditions, volume and timing limits under Rule 10b-18, with the remaining $80 million available for deployment over the two-year period.
3. Strategic Goals of Buyback Program
The repurchase program is intended to narrow the discount between the Fund's share price and its NAV, strengthen capital allocation, and contribute to long-term shareholder value as part of a broader enhancement strategy.
