abrdn Asia-Pacific Income Fund, Inc. (FAX) Announces Issuance Of Series B Mandatory Redeemable Preferred Shares [Yahoo! Finance]
abrdn Asia-Pacific Income Fund, Inc. (FAX)
NASDAQ:AMEX Investor Relations:
aberdeenfax.com
Company Research
Source: Yahoo! Finance
abrdn Asia-Pacific Income Fund, Inc. (NYSE MKT:FAX) (the "Fund"), a closed-end fund, today announced the closing of a private offering of 4 million shares of Series B Mandatory Redeemable Preferred Shares due 2029 (the "Series B MRPS"). The Series B MRPS, with a liquidation value of $100 million, are rated AA- by Kroll Bond Rating Agency, LLC ("KBRA"). Net proceeds from the Series B MRPS will be used to, as permitted under the Investment Company Act of 1940, as amended (the "1940 Act"), make new portfolio investments, refinancing or repayment of existing indebtedness and for general purposes. The table below summarizes certain key terms of the Fund's current leverage: Amount ($ in millions) KBRA Rating Maturity 364- day Syndicated Revolving Credit Facility July 30, 2025 5-year Series B Mandatory Redeemable Preferred Shares AA- October 3, 2029 15-year Series C Senior Secured Notes AAA February 8, 2032 15-year Series D Senior Secured Notes AAA August 10,
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- abrdn Asia-Pacific Income Fund, Inc. (FAX) Announces Issuance Of Series B Mandatory Redeemable Preferred SharesAccesswire
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FAX
Sec Filings
- 11/7/24 - Form SC
- 10/3/24 - Form 8-K
- 10/3/24 - Form 3
- FAX's page on the SEC website