Neuberger High Yield Strategies Fund lifts revolving loan facility by $25 million to $135 million
NHS•Revolving loan facility to increase
Neuberger Berman High Yield Strategies Fund outlined plans to expand leverage via an amended revolving debt financing facility with an unaffiliated bank.
Committed capacity under the Revolving Loan Facility is set to rise by $25 million to $135 million, subject to closing conditions.
Additional preferred shares expected
The fund also expects to issue $10 million of additional Mandatory Redeemable Preferred Shares, Series D, lifting Series D outstanding to $50 million.
The transactions are targeted within the next week. The leverage increase is aimed at aligning borrowing capacity with a larger asset base following a rights offering.
