Calamos Closed-End Funds (NASDAQ: CHI, CHY, CSQ and CCD) Announce Private Placements Totaling $170 Million of Mandatory Redeemable Preferred Shares
Calamos Dynamic Convertible & Income Fund - Closed End Fund (CCD)
US:NASDAQ Investor Relations:
calamos.com/fundinvestor/closedendfunds/cefund.aspx?name=ccd
Company Research
Source: PR Newswire
METRO CHICAGO, Ill., Sept. 9, 2024 /PRNewswire/ -- The Boards of Trustees of four of Calamos Investments' closed-end funds (the Funds) today announced the issuance of an additional series of mandatory redeemable preferred (MRP) shares totaling $170 million. The newly issued MRP shares will provide additional financial leverage for the Funds."Our commitment to serving closed-end fund investors with innovative and attractive solutions has been steadfast since we entered the business more than 20 years ago," said John Koudounis, President and Chief Executive Officer of Calamos Investments. He continued, "We are pleased to complete this transaction with terms that we believe are beneficial for the Funds' common shareholders. "Kroll Bond Rating Agency, LLC (KBRA) assigned ratings of "AA-" to each series of MRP shares. The MRP shares were privately placed with institutional investors and are subject to mandatory redemption 5 years from the date of issuance, as shown. The Series G MRP share
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