NAPERVILLE, Ill., Jan. 28, 2013 /PRNewswire/ -- Calamos
Investments®* announces enhancements to its five
closed-end funds with an additional lending provider, effective as
of the close of business on January 22,
2013. The enhancement affects the Calamos Convertible
Opportunities and Income Fund (NASDAQ: CHI), Calamos Convertible
and High Income Fund (NASDAQ: CHY), Calamos Strategic Total Return
Fund (NASDAQ: CSQ), Calamos Global Total Return Fund (NASDAQ: CGO)
and Calamos Global Dynamic Income Fund (NASDAQ: CHW).
After a rigorous search process, the board of trustees for the
funds approved State Street Bank and Trust Company to act as an
additional lender and source of leverage financing, in addition to
BNP Paribas Prime Brokerage International, the funds' existing
lender.
"After careful consideration, we believe entering into an
additional lending arrangement with State Street will diversify the
funds' access to capital, which we believe is prudent and in the
shareholders' best interest. The financing arrangements will also
slightly increase the funds' borrowing capacity, which expands the
Calamos Investment Team's flexibility in its ongoing management of
the closed-end funds. Finally, we believe the new financing
structure provides the potential to reduce interest-related
expenses for the funds, which will also benefit our shareholders,"
said John P. Calamos, Sr., Chief
Executive Officer and Global Co-Chief Investment Officer of Calamos
Investments.
Each of the closed-end funds has entered into a credit agreement
and can borrow up to the following maximum amounts:
Closed-End Fund
|
State
Street Borrowing Limit
|
BNP
Borrowing Limit
|
Total
Availability
|
Calamos
Convertible and
High Income Fund
|
$200,000,000
|
$200,000,000
|
$400,000,000
|
Calamos
Convertible
Opportunities and Income
Fund
|
$200,000,000
|
$200,000,000
|
$400,000,000
|
Calamos
Global Dynamic
Income Fund
|
$127,500,000
|
$127,500,000
|
$255,000,000
|
Calamos
Global Total
Return Fund
|
$30,000,000
|
$30,000,000
|
$60,000,000
|
Calamos
Strategic Total
Return Fund
|
$367,500,000
|
$367,500,000
|
$735,000,000
|
For more information about the Calamos closed-end funds, visit
http://www.calamos.com/FundInvestor/closedendfunds.
About Calamos
Calamos Investments LLC is a diversified global investment firm
offering innovative investment strategies including equity, fixed
income, convertible and alternative investments, among others. The
firm offers strategies through separately managed portfolios,
mutual funds, closed-end funds, private funds and UCITS funds.
Clients include major corporations, pension funds, endowments,
foundations and individuals. Headquartered in the Chicago metropolitan area, the firm also has
offices in London and New York. For more information visit
calamos.com.
*Calamos Investments LLC, referred to herein as Calamos
Investments®, is a financial services company offering
such services through its subsidiaries: Calamos Advisors LLC,
Calamos Wealth Management LLC, Calamos Investments LLP and Calamos
Financial Services LLC.
SOURCE Calamos Investments