BNY Mellon High Yield Strategies Fund Announces Change in Leverage Providers
November 30 2020 - 5:09PM
Business Wire
BNY Mellon High Yield Strategies Fund (NYSE: DHF) (the “Fund”)
today announced entry into a new credit facility of up to $125
million with BNP Paribas Prime Brokerage International Limited. The
new credit facility replaces the credit facility with the Fund's
previous credit facility provider.
The credit facility is evergreen, subject to standard notice and
termination provisions, and is secured by the Fund’s investments.
Borrowings under the new credit facility are at an interest rate of
1-month LIBOR + 90 basis points. Additional information about the
Fund and its use of leverage can be found in the Fund's annual and
semi-annual shareholder reports, which are available on the Fund's
website at
https://im.bnymellon.com/us/en/products/closed-end-funds.jsp.
Information about the new credit facility will be available in the
Fund's next semi-annual shareholder report.
Forward Looking Statements
This press release may contain forward-looking statements.
Actual future results or occurrences may differ significantly from
those anticipated in any forward-looking statements due to numerous
factors, including, but not limited to, market developments, legal
and regulatory developments and other additional risks and
uncertainties. The Fund and its investment adviser undertake no
responsibility to update or revise any forward-looking
statements.
Important Information
BNY Mellon Investment Adviser, Inc., the investment adviser for
the Fund, is part of BNY Mellon Investment Management. BNY Mellon
Investment Management is one of the world’s leading investment
management organizations and one of the top U.S. wealth managers,
with US $2.0 trillion in assets under management as of September
30, 2020. BNY Mellon Investment Management encompasses BNY Mellon’s
affiliated investment management firms, wealth management
organization and global distribution companies. Through an
investor-first approach, BNY Mellon Investment Management brings to
clients the best of both worlds: specialist expertise from eight
world-class investment firms offering solutions across every major
asset class, backed by the strength, stability, and global presence
of The Bank of New York Mellon Corporation (NYSE: BK), one of the
world’s most trusted investment partners, which has US $38.6
trillion in assets under custody and/or administration as of
September 30, 2020.
BNY Mellon is the corporate brand of The Bank of New York Mellon
Corporation and may also be used as a generic term to reference the
Corporation as a whole or its various subsidiaries generally.
Additional information on BNY Mellon Investment Management is
available on www.im.bnymellon.com. BNY Mellon Investment
Management’s website is intended to allow investors public access
to information regarding the Fund and does not, and is not intended
to, incorporate the website in this release.
Closed-end funds are traded on the secondary market through one
of the stock exchanges. The Fund’s investment returns and principal
value will fluctuate so that an investor’s shares may be worth more
or less than the original cost. Shares of closed-end funds may
trade above (a premium) or below (a discount) the net asset value
(NAV) of the fund’s portfolio. There is no assurance that the Fund
will achieve its investment objective.
This release is for informational purposes only and should not
be considered as investment advice or a recommendation of any
particular security.
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version on businesswire.com: https://www.businesswire.com/news/home/20201130005960/en/
For Press Inquiries: BNY Mellon Investment Adviser, Inc.
Benjamin Tanner 212-635-8676 For Other Inquiries: BNY Mellon
Securities Corporation The National Marketing Desk 240 Greenwich
Street New York, New York 10286 1-800-334-6899
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