Saba Capital Management, L.P. and certain associated parties (collectively “Saba”) today issued the following statement regarding agreements with Invesco Senior Income Trust (NYSE: VVR), Invesco High Income Trust II (NYSE: VLT), and Invesco Dynamic Credit Opportunities Fund (NYSE: VTA) (“Invesco” or the “Funds”).

“Saba is pleased to have reached these agreements through constructive engagement with the Invesco boards,” said Pierre Weinstein, Partner and Portfolio Manager at Saba. “We believe the tender offers contemplated by the agreements will benefit all shareholders by providing them the opportunity to tender their shares at a price close to the Funds’ respective net asset values.”

Under the terms of the agreements, prior to January 1, 2020, Invesco Senior Income Trust, Invesco High Income Trust II, and Invesco Dynamic Credit Opportunities Fund will commence cash tender offers for up to 15%, 20%, and 15%, respectively, of the Funds’ outstanding common shares of beneficial interest at a price per share equal to 98.5% of the Funds’ respective net asset values (“NAV”) per share. The Funds will repurchase shares tendered and accepted in the tender offers in exchange for cash. In addition, Saba has agreed to certain standstill covenants.

About Saba Capital

Saba Capital Management, L.P. is an Investment Adviser based in New York. Launched in 2009, Saba currently manages assets across three core strategies: Credit Relative Value, Tail Hedge, and Closed-End Funds.