BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc. Announces Dates of Quarterly Tender Offer

Rhea-AI Summary

BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc. (AMCA) announced the approval of the Fund's quarterly tender offer, offering 2.5% of outstanding shares as of December 31, 2023. The Tender Offer will commence on January 17, 2024, and expire on February 13, 2024, at 5:00 p.m. Eastern Time, with the price determined as the net asset value per share as of December 31, 2023.

Financial Analyst

The announcement of BNY Mellon Alcentra Global Multi-Strategy Credit Fund's quarterly tender offer represents a strategic financial maneuver that directly affects shareholder interests and the fund's capital structure. A tender offer of 2.5% of outstanding shares can be indicative of the fund's liquidity management and its commitment to returning capital to shareholders. This move might signal to the market a level of confidence in the fund's current and future performance, potentially impacting the stock's demand dynamics.

From a financial analysis standpoint, the pricing of the tender offer at the net asset value (NAV) per share as of December 31, 2023, will be closely watched. NAV is a critical measure for closed-end funds like this, representing the per-share value of the fund's assets minus its liabilities. A tender offer at NAV can be appealing to shareholders, especially if the fund's shares trade at a discount to NAV in the market. This could lead to a temporary uptick in the share price as investors may perceive the tender offer as an opportunity to realize immediate value.

Moreover, the timing and size of the tender offer can have implications for the fund's performance. If the fund's assets under management decrease as a result of the buyback, it could affect the fund's expense ratio and operational efficiency. Investors should consider these factors in conjunction with the fund's investment strategy and portfolio composition when evaluating the potential impact on their holdings.

Market Research Analyst

The decision by BNY Mellon Alcentra Global Multi-Strategy Credit Fund to initiate a quarterly tender offer is a noteworthy event that may influence investor sentiment and the fund's market positioning. In the broader context of the investment fund industry, tender offers are often used as a tool to manage discounts to NAV, which can affect the market perception of the fund.

It is important to analyze the fund's historical performance relative to its peers and the market conditions leading up to the tender offer. A fund that consistently trades at a significant discount to its NAV might employ tender offers as a mechanism to align market price with intrinsic value, thereby potentially stabilizing its market price. The response of investors to the tender offer could also provide insights into their expectations of future performance and the perceived value of the fund's underlying assets.

Additionally, investor reaction to the tender offer will likely reflect their assessment of current market conditions, including interest rate environment, credit spreads and economic forecasts, which can directly impact credit-focused funds. The tender offer may also serve as a bellwether for the fund's strategic initiatives and could influence the competitive landscape among similar investment vehicles.

NEW YORK--(BUSINESS WIRE)-- BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc. (the "Fund") today announced that the Fund's Board of Directors has approved the Fund's quarterly tender offer (the "Tender Offer") with the following terms:

Number of Shares	2.5% of the Fund's outstanding shares as of December 31, 2023
Commencement Date	January 17, 2024
Expiration Date and Time	February 13, 2024 at 5:00 p.m. Eastern Time, unless otherwise extended
Price	Net asset value per share determined as of December 31, 2023

The terms and conditions of the Tender Offer will be set forth in the Fund's Offer to Purchase, the related Letter of Transmittal and other related documents. As soon as the Tender Offer commences, the Fund will file with the Securities and Exchange Commission (the "SEC") a tender offer statement on Schedule TO and related exhibits, including an Offer to Purchase, a related Letter of Transmittal and other related documents (the "Offer Documents").

This announcement is for informational purposes only and is not a recommendation, an offer to purchase or a solicitation of an offer to sell shares of the Fund. The Offer Documents will be distributed to Fund shareholders. Shareholders may obtain additional copies of the Offer Documents, when available, without charge, by contacting Georgeson LLC, the Fund's Tender Offer information agent, toll free at (877) 278-9670. Shareholders can also obtain the Offer Documents, when filed, free of charge on the SEC's website at www.sec.gov. Shareholders should read these documents and related exhibits carefully as the documents contain important information about the Fund's Tender Offer.

If you have questions about the Tender Offer and hold the Fund's shares through a broker or other nominee holder, you can call your broker or other nominee holder directly. You may also call Georgeson LLC, the Fund's Tender Offer information agent, toll free at (877) 278-9670, with any questions.

The Tender Offer will not be made to, nor will tenders pursuant to the Tender Offer be accepted from or on behalf of, shareholders in any jurisdiction in which making or accepting the Tender Offer would violate that jurisdiction's laws.

BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc. is a diversified, closed-end management investment company. BNY Mellon Investment Adviser, Inc., the investment adviser for the Fund, is part of BNY Mellon Investment Management. BNY Mellon Investment Management is one of the world's largest asset managers, with $1.8 trillion in assets under management as of September 30, 2023. Through a client-first approach, BNY Mellon Investment Management brings investors specialist expertise through its seven investment firms offering solutions across every major asset class and backed by the breadth and scale of BNY Mellon. Additional information on BNY Mellon Investment Management is available on www.bnymellonim.com. Follow us on LinkedIn for the latest company news and activity.

BNY Mellon Investment Management is a division of BNY Mellon, which has $45.7 trillion in assets under custody and/or administration as of September 30, 2023. Established in 1784, BNY Mellon is America's oldest bank. Today, BNY Mellon powers capital markets around the world through comprehensive solutions that help clients manage and service their financial assets throughout the investment life cycle. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on LinkedIn or visit our newsroom for the latest company news. BNY Mellon Investment Management's website is intended to allow investors public access to information regarding the Fund and does not, and is not intended to, incorporate the website in this release.

The Fund's investment returns and principal values will fluctuate so that an investor's shares may be worth more or less than the original cost. There is no assurance that the Fund will achieve its investment objective.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240110607583/en/

For Press Inquiries:

BNY Mellon Investment Adviser, Inc.

Sue Watt

(212) 815-3757

For Other Inquiries:

BNY Mellon Securities Corporation

The National Marketing Desk

240 Greenwich Street

New York, New York 10286

1-800-334-6899

Source: BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc.

What is the name of the company mentioned in the press release about the tender offer?

The company mentioned in the press release is BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc. (AMCA).

What is the ticker symbol for BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc.?

The ticker symbol for BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc. is AMCA.

When does the Tender Offer commence and expire?

The Tender Offer will commence on January 17, 2024, and expire on February 13, 2024, at 5:00 p.m. Eastern Time.

What is the price of the Tender Offer?

The price of the Tender Offer is determined as the net asset value per share as of December 31, 2023.

Where can shareholders obtain the Offer Documents?

Shareholders can obtain the Offer Documents, when available, without charge, by contacting Georgeson LLC, the Fund's Tender Offer information agent, toll free at (877) 278-9670. Shareholders can also obtain the Offer Documents, when filed, free of charge on the SEC's website at www.sec.gov.