First Trust/Aberdeen Global Opportunity Income Fund Announces Preliminary Results of Tender Offer
February 12 2021 - 5:57PM
Business Wire
First Trust/Aberdeen Global Opportunity Income Fund (NYSE: FAM)
(the “Fund”) today announced the preliminary results of the tender
offer it conducted.
As previously announced, the Fund conducted a tender offer for
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. The Fund’s tender offer, which expired at 5:00
p.m. New York City time on Friday, February 12, 2021, was
oversubscribed. Due to the fact that the number of shares tendered
exceeded the number of shares the Fund offered to purchase, the
Fund will purchase the maximum percentage of its outstanding common
shares on a pro-rata basis in accordance with the number of shares
duly tendered by each shareholder and the terms of the offer to
purchase. Based on preliminary information, a total of 5,450,859
shares were tendered.
The Fund currently expects to announce the final results of the
tender offer on Tuesday, February 16, 2021.
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 $174
billion as of January 31, 2021 through unit investment trusts,
exchange-traded funds, closed-end funds, mutual funds and separate
managed accounts.
Aberdeen Standard Investments Inc. (“ASII”) 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 a range of pension funds, financial institutions,
investment trusts, unit trusts, offshore funds, charities and
private clients.
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.
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