Clough Global Equity Fund and Clough Global Opportunities Fund Announces Redemption of Certain Series of Auction Market Preferre
April 29 2008 - 6:10PM
Business Wire
Today, Clough Global Equity Fund (AMEX: GLQ), and Clough Global
Opportunities (AMEX: GLO) (each a �Fund� and together with the
Clough Global Allocation Fund (AMEX: GLV), the �Funds�) are pleased
to announce the redemption of all outstanding shares of certain
series of Auction Market Preferred Shares (the �AMPS�) at par, as
set forth below, in their entirety pursuant to their terms. Series
and CUSIP Number � Total Liquidation Preference � Redemption Date
GLQ Series M28 (Cusip: 18914C209) $100,000,000 April 29, 2008 GLO
Series M7 (Cusip: 18914E205) $90,000,000 April 29, 2008 The Funds
intend to redeem all outstanding shares of the remaining series of
AMPS at par, as set forth below, in their entirety pursuant to
their terms. Series and CUSIP Number � Total Liquidation Preference
� Redemption Date GLO Series W7 (Cusip: 18914E304) $90,000,000 May
1, 2008 GLQ Series F7 (Cusip: 18914C308) $75,000,000 May 5, 2008
GLO Series F7 (Cusip: 18914E403) $90,000,000 May 5, 2008 GLO Series
T28 (Cusip: 18914E502) $90,000,000 May 7, 2008 GLV Series W28
(Cusip: 18913Y202) $95,000,000 May 22, 2008 GLO Series Th28 (Cusip:
18914E601) $90,000,000 May 23, 2008 Each Fund has obtained
overnight collateralized financing from a financial institution to
provide new funding to redeem the AMPS and provide up to 33%
leverage to the Funds going forward. Each of the Fund�s Board of
Trustees has approved the refinancing which is expected to lower
the costs of leverage for the Funds. Each Fund�s obligation to
redeem the AMPS shares is subject to having sufficient funds
available to it from its borrowing arrangement to finance the
redemption. More information on the Funds can be found at
www.cloughglobal.com or by calling 877-256-8445. The Funds are
closed-end fund mutual funds. Closed-end funds do not continuously
issue shares for sale as open-end mutual funds do. Since the
initial public offerings, the Clough Global Funds now trade in the
secondary market. Investors wishing to buy or sell shares need to
place orders through an intermediary or broker.
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