NB Global Floating Rate Income Fund Portfolio Update (8608U)
06 Dicembre 2013 - 8:01AM
UK Regulatory
TIDMNBLS TIDMNBCS TIDMNBLU
RNS Number : 8608U
NB Global Floating Rate Income Fund
06 December 2013
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR
INDIRECTLY, TO U.S. PERSONS OR INTO OR IN THE UNITED STATES,
AUSTRALIA, CANADA OR JAPAN.
NB Global Floating Rate Income Fund
C Share Update
6 December 2013
The board of directors (the "Board") of NB Global Floating Rate
Income Fund Limited (the "Company") today announces an update in
relation to the Company's investment of the GBP425 million of gross
proceeds from the issue of C Shares on 24 October 2013.
As at 4 December 2013, the Company had invested approximately
94% of the net proceeds of the C Share issue. The C Share Portfolio
has therefore satisfied the percentage investment condition set out
in the Prospectus published on 30 September 2013, and the Company
expects that the conversion of the C Shares to ordinary shares
("Conversion") will take place shortly after the next quarterly
dividend is announced in early January. Conversion will be
calculated on the basis of the relative Net Asset Value as at 31
December 2013, excluding the amount of the dividends attributable
to each class of shares. A further announcement in respect of
Conversion will be made in due course.
-ENDS-
For further information please contact:
Neuberger Berman Europe Limited +44 (0)20 3214 9000
Anji Stewart
FTI Consulting +44 (0)20 7269 7243
Neil Doyle
Ed Berry
Laura Ewart
Background Information
The Company is a registered closed-ended investment company
incorporated in Guernsey. The Company is managed by Neuberger
Berman Europe Limited, which has delegated certain of its
responsibilities and functions to the sub-investment manager,
Neuberger Berman Fixed Income LLC, both of which are indirect
wholly owned subsidiaries of Neuberger Berman Group LLC. The
Company's investment objective is to provide its shareholders with
regular dividends, at levels that are sustainable, whilst growing
the capital value of its investment portfolio over the long term.
To pursue its investment objective, the Company will invest mainly
in floating rate senior secured loans issued in U.S. Dollars,
Sterling, and Euros by North American and European Union
corporations, partnerships and other business issuers.
Established in 1939, Neuberger Berman is one of the world's
leading private, independent employee-controlled asset management
firms, managing approximately $227 billion in assets as of
September 30, 2013. Neuberger Berman provides a broad range of
global investment solutions to institutions and individuals through
customized separately managed accounts, funds and alternative
investment products.
This document is intended only for the person to whom it has
been delivered. No part of this document may be reproduced in any
manner without the written permission of NB Global Floating Rate
Income Fund Limited ("NBGFRIF"). The securities described in this
document may not be eligible for sale in some states or countries
and it may not be suitable for all types of investors. Securities
in the fund may not be offered or sold directly or indirectly into
the United States or to U.S. Persons. Prospective investors are
advised to seek expert legal, financial, tax and other professional
advice before making any investment decision. The price of
investments may fall as well as rise and investors may not get back
the full amount invested. The target yield should not be taken as
an indication of the Fund's expected future performance or results.
The target yield is a target only and there is no guarantee that it
can or will be achieved and it should not be seen as an indication
of the Fund's actual or expected return. Statements contained
herein, including without limitation, statements regarding the
credit markets, are based on current expectations, estimates,
projections, opinions and/or beliefs of the managers. Such
statements involve known and unknown risks, uncertainties and other
factors, and undue reliance should not be placed thereon. Such
statements are necessarily speculative in nature, as they are based
on certain assumptions. It can be expected that some or all of the
assumptions underlying such statements will not reflect actual
conditions. Accordingly, there can be no assurance that any
projections, forecast or estimates will be realized. This document
is not intended to be an investment advertisement or sales
instrument; it constitutes neither an offer nor an attempt to
solicit offers for the securities described herein. This document
was prepared using the financial information available to NBGFRIF
as at the date of this document. This information is believed to be
accurate but has not been audited by a third party. This document
describes past performance, which may not be indicative of future
results. NBGFRIF does not accept any liability for actions taken on
the basis of the information provided in this document. Neuberger
Berman is a registered trademark.
(c) 2013 Neuberger Berman.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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