Templeton Global Income Fund announces an Equity Buyback for 46,235,867 shares, representing 45% of its issued and outstanding common shares.
October 10, 2023 at 12:00 am EDT
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Templeton Global Income Fund (NYSE:GIM) announces a share repurchase program. Under the offer, the fund will repurchase up to a lesser of 46,235,867 shares, representing 45% of its issued and outstanding common shares. The repurchases will be made at a price per share equal to 99% of the Fund?s net asset value per share as of the close of trading on the first business day after the expiration of the offer. The offer will be funded from cash on hand and then sell of portfolio securities to raise the fund. If more shares are tendered than the amount the Board has authorized to purchase, the Fund will purchase a number of shares equal to the offer amount on a prorated basis. The program will commence today and will expire on November 9, 2023, unless extended. As of October 5, 2023, the company had 102,746,371 shares.
Equiniti Trust Company, LLC acted as a depository and David A. Curtiss, from Schulte Roth & Zabel LLP acted as a legal advisor to the company.
Saba Capital Income & Opportunities Fund II (the Fund), formerly Templeton Global Income Fund, is a closed-end management investment company. The Fund seeks to provide investors with a high level of current income, with a secondary goal of capital appreciation. The Fund invests globally in debt and equity securities of public and private companies, which includes, among other things, investments in closed-end funds, special purpose acquisition companies (SPACs), reinsurance, and public and private debt instruments. The Fund also may utilize derivatives, including total return swaps, credit default swaps, options and futures, in seeking to enhance returns and/or to reduce portfolio risk. The Fund may also invest up to 15% of its total assets in private funds on a discretionary basis. The Fundâs manager is Saba Capital Management, LP.
SABA CAPITAL INCOME & OPPORTUNITIES FUND II 
