Neuberger Berman MLP Income Fund Inc. announced that it has successfully entered into a new leverage financing facility with a major global financial institution. Under the terms of the new facility, the fund has access to committed debt financing of up to $500 million. The new facility consists of $300 million in floating-rate debt financing and $200 million in fixed-rate debt financing.

For the floating-rate portion of the new facility, the fund will pay interest based on a set percentage above the three-month London Interbank Offered Rate (LIBOR). Upon closing of the new facility, the fund utilized $400 million of the new facility in order to repay all borrowings outstanding under its prior leverage facility. The fund currently expects that the total amount of leverage it employs will not change materially.