XFLT Announces Plan For Initial Tender Offer And Subsequent Liquidity Opportunities For Shareholders

July 27 (Reuters) - XAI Floating Rate and Alternative Income Trust (XFLT.N):

• XFLT announces plan for initial tender offer and subsequent liquidity opportunities for shareholders.
• The initial tender offer would provide for repurchase of up to 12.5% of the fund's outstanding shares.
• The first contingent tender offer would provide for repurchase of up to 7.5% of the fund's outstanding shares.
• The second contingent tender offer would provide for repurchase of up to 5% of the fund's outstanding shares.
• XAI Floating Rate and Alternative Income Trust entered into an agreement with Bulldog Investors.
• Bulldog Investors agreed to vote "for" approval of the King Street sub-advisory agreement.
• Pursuant to the agreement, Bulldog Investors agreed to customary standstill terms for a period of 2 years.