First Trust/Aberdeen Global Opportunity Income Fund Announces Commencement of Tender Offer
January 14 2021 - 9:44AM
Business Wire
First Trust/Aberdeen Global Opportunity Income Fund (NYSE: FAM)
(the “Fund”) today commenced a tender offer.
As previously announced, the Fund will purchase up to 20% of its
outstanding common shares for cash at a price per share equal to
98% of the net asset value per share as determined as of the close
of the regular trading session of the NYSE on February 16, 2021, or
if the offer is extended, as determined by the close of the regular
trading session of the NYSE on the next trading day after the day
to which the offer is extended (in each case, the “Valuation
Date”). The tender offer will expire on February 12, 2021 at 5:00
p.m. Eastern time, or on such later date to which the offer is
extended.
Additional terms and conditions of the tender offer are set
forth in the Fund’s tender offer materials, which will be
distributed to shareholders. If the amount of the Fund’s
outstanding common shares that is tendered exceeds the maximum
amount of its offer, the Fund will purchase shares from tendering
shareholders on a pro rata basis. Accordingly, there is no
assurance that the Fund will purchase all of a shareholder’s
tendered shares.
Completion of the tender offer is subject to the satisfaction of
certain customary conditions, as described in the tender offer
materials, and there can be no assurance such conditions will be
satisfied. In addition, under certain circumstances, the Fund may
terminate or abandon the tender offer, as described in the tender
offer materials, and there can be no assurance such circumstances
will not arise.
The Fund is a diversified, closed-end management investment
company that seeks to provide a high level of current income. As a
secondary objective, the Fund seeks capital appreciation. The Fund
pursues these investment objectives by investing in the world bond
markets through a diversified portfolio of investment grade and
below-investment grade government and corporate debt
securities.
First Trust Advisors L.P., the Fund’s investment advisor, along
with its affiliate, First Trust Portfolios L.P., are privately-held
companies which provide a variety of investment services, including
asset management and financial advisory services, with collective
assets under management or supervision of approximately $171.6
billion as of December 31, 2020 through unit investment trusts,
exchange-traded funds, closed-end funds, mutual funds and separate
managed accounts.
Aberdeen Standard Investments Inc. (“ASII”) (formerly, Aberdeen
Asset Management Inc.) serves as the Fund’s investment sub-advisor.
ASII is an indirect wholly-owned subsidiary of Standard Life
Aberdeen plc. Aberdeen Standard Investments is the brand name for
the asset management group of Standard Life Aberdeen plc, managing
approximately $562.9 billion in assets as of June 30, 2020, for a
range of pension funds, financial institutions, investment trusts,
unit trusts, offshore funds, charities and private clients.
TENDER OFFER STATEMENT
This press release does not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer or
solicitation or sale would be unlawful prior to registration or
qualification under the laws of such state or jurisdiction. The
tender offer will be made only by an offer to purchase, a related
letter of transmittal and other documents, which have been filed
with the Securities and Exchange Commission as exhibits to a tender
offer statement on Schedule TO. Common shareholders of the Fund
should read the offer to purchase and tender offer statement on
Schedule TO and related exhibits as they contain important
information about the tender offer. The offer to purchase and
related letter of transmittal are available free of charge at
http://www.sec.gov and from the Fund by calling Georgeson LLC, the
Fund’s information agent for the tender offer, at: (888)
680-1528.
FORWARD-LOOKING STATEMENTS
Certain statements made in this press release are
forward-looking statements. Actual results or occurrences may
differ significantly from those anticipated in any forward-looking
statements due to numerous factors. Completion of the tender offer
is subject to satisfaction of conditions, and there can be no
assurance such conditions will be satisfied. Also, there are
circumstances under which the tender offer may be
terminated/abandoned, and there can be no assurance such
circumstances do not arise.
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version on businesswire.com: https://www.businesswire.com/news/home/20210114005653/en/
Jim Dykas – (630) 517-7665
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