abrdn Asia-Pacific Income Fund issues $100M Series B Mandatorily Redeemable Preferred Shares due 2029

ABRDN ASIA-PACIFIC INCOME FUND, INC.

Issued 4,000,000 Series B MRP Shares at $25 per share liquidation preference.
Gross proceeds of $100 million; mandatory redemption on October 3, 2029.
Shares rated 'AA-' by Kroll Bond Rating Agency; exempt from SEC registration under Rule 506(c).
Net proceeds used for general working capital and investment portfolio enhancements.
Fund adopted Articles Supplementary authorizing the new preferred share series.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

ABRDN ASIA-PACIFIC INCOME FUND, INC.: Adopted Articles Supplementary establishing Series B Mandatorily Redeemable Preferred Shares (effective 2024-10-01).

Change: charter amendment
Effective: 2024-10-01

Exact text from the filing

The Fund adopted the Articles Supplementary (the “Articles”), dated October 1, 2024, establishing and fixing the rights and preferences of the MRP Shares.

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ABRDN ASIA-PACIFIC INCOME FUND, INC. filing history →

Source: SEC EDGAR

accession 0001104659-24-105892

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