BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc. Enter into New Credit Facility Agreement
November 19, 2020 at 05:30 pm EST
Share
BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc. announced entry into a new $68 million credit facility with Société Générale. The new credit facility agreement replaces the credit facility agreement with the Fund's previous credit facility provider. The initial term of the new credit facility agreement is through November 18, 2022. The credit facility is secured by the Fund’s investments. Borrowings under the new credit facility are at an interest rate of L+ 160 basis points (with a zero basis point floor).
BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc. (the Fund) is a closed-end management investment company. The Fundâs investment objectives are to seek high current income and to return. Under normal market conditions, the fund invests at least 80% of its managed assets in credit instruments and other investments with similar economic characteristics. Such credit instruments include: first lien secured floating rate loans, as well as investments in participations and assignments of such loans; second lien, senior unsecured, mezzanine and other collateralized and uncollateralized subordinated loans; corporate debt obligations other than loans; and structured products, including collateralized bond, loan and other debt obligations, structured notes and credit-linked notes. The Fund focuses its investments on credit instruments of United States and European companies. The Fundâs investment adviser is BNY Mellon Investment Adviser, Inc.
BNY MELLON ALCENTRA GLOBAL CREDIT INCOME 2024 TARGET TERM FUND, INC. 