Carlyle Credit Income Fund Prices Offering of Preferred Shares

Rhea-AI Summary

Carlyle Credit Income Fund (NYSE: CCIF) priced an underwritten public offering of 1.2 million 7.375% Series D Preferred Shares due 2028 at $25 per share, producing expected net proceeds of approximately $29.4 million.

The offering is expected to close on October 30, 2025, and the Fund granted underwriters a 30-day option for up to 180,000 additional shares. The Preferred Shares carry an ‘BBB+’ rating from Egan-Jones and are expected to list on the NYSE under the symbol CCID within 30 days of original issue.

Positive

• Gross proceeds of $30.0 million (1.2M × $25)
• Net proceeds of approximately $29.4 million to the Fund
• Fixed 7.375% coupon through 2028 provides predictable income
• ‘BBB+’ rating from Egan-Jones supports credit quality perception

Negative

• Offering increases preferred share count by 1.2 million, diluting existing preferred economics
• 7.375% coupon implies material fixed cash obligation through 2028
• Underwriters hold a 30-day option for up to 180,000 extra shares, raising potential additional supply
• Listing and closing are subject to customary conditions, creating timing uncertainty

NEW YORK, Oct. 23, 2025 (GLOBE NEWSWIRE) -- Carlyle Credit Income Fund (the “Fund”) (NYSE: CCIF) today announced that it has priced an underwritten public offering of 1.2 million shares of its 7.375% Series D Preferred Shares due 2028 (the “Preferred Shares”) at a public offering price of $25 per share, which will result in net proceeds to the Fund of approximately $29.4 million after payment of underwriting discounts and commissions and estimated offering expenses payable by the Fund. The Preferred Shares are rated ‘BBB+’ by Egan-Jones Ratings Company, an independent rating agency.

The offering is expected to close on October 30, 2025, subject to customary closing conditions. The Fund has granted the underwriters a 30-day option to purchase up to an additional 180,000 shares of Preferred Shares. The Preferred Shares are expected to be listed on the New York Stock Exchange and to trade thereon within 30 days of the original issue date under the symbol “CCID.”

Lucid Capital Markets, LLC is acting as lead book-running manager for the offering, B. Riley Securities, Inc. and Piper Sandler & Co. are acting as joint book-running managers for the offering, A.G.P. / Alliance Global Partners, is acting as lead manager for the offering and Clear Street LLC and InspereX LLC are acting as co-managers for the offering.

Investors should consider the Fund’s investment objectives, risks, charges, and expenses carefully before investing. The preliminary prospectus supplement dated October 23, 2025 and the accompanying prospectus dated September 29, 2023, which have been filed with the Securities and Exchange Commission (“SEC”), contain this and other information about the Fund and should be read carefully before investing. The information in the preliminary prospectus supplement, the accompanying prospectus and this press release is not complete and may be changed. The preliminary prospectus supplement, the accompanying prospectus and this press release are not offers to sell these securities and are not soliciting an offer to buy these securities in any state where such offer or sale is not permitted.

A shelf registration statement relating to these securities is on file with and has been declared effective by the SEC. The offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained by writing Lucid Capital Markets, LLC at 570 Lexington Avenue, New York, New York 10022, by calling toll-free 1-800-646-362-0256 or by sending an e-mail to: prospectus@lucid.com ; copies may also be obtained for free by visiting EDGAR on the SEC’s website at http://www.sec.gov.

Egan-Jones Ratings Company is a nationally recognized statistical rating organization (NRSRO). A security rating is not a recommendation to buy, sell or hold securities, and any such rating may be subject to revision or withdrawal at any time by the applicable rating agency.

ABOUT CARLYLE CREDIT INCOME FUND

The Fund is an externally managed closed-end fund focused on investing in primarily equity and junior debt tranches of collateralized loan obligations (“CLOs”). The CLOs are collateralized by a portfolio consisting primarily of U.S. senior secured loans with a large number of distinct underlying borrowers across various industry sectors. With Carlyle Global Credit Investment Management L.L.C. (“Carlyle”) as its investment adviser, the Fund draws upon the significant scale and resources of Carlyle and its affiliates as one of the world’s largest CLO managers. For more information, visit www.carlylecreditincomefund.com.

FORWARD-LOOKING STATEMENTS

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the prospectus and the Fund’s other filings with the SEC. The Fund undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Source: Carlyle Credit Income Fund
Investor Relations:
866-277-8243
investorrelations@carlylecreditincomefund.com
www.carlylecreditincomefund.com

Contacts:
Investors:		Media:
Joseph Castilla		Kristen Ashton
+1 (866) 277-8243 investorrelations@carlylecreditincomefund.com		+1 (212) 813-4763 kristen.ashton@carlyle.com

FAQ

How many Series D preferred shares did CCIF price and at what price?

CCIF priced 1.2 million Series D preferred shares at $25 per share.

What net proceeds will CCIF receive from the October 23, 2025 offering?

The Fund expects approximately $29.4 million in net proceeds after underwriting discounts and expenses.

When will CCIF's preferred offering close and when will shares trade under symbol CCID?

The offering is expected to close on October 30, 2025, and shares are expected to trade on the NYSE within 30 days of original issue.

What is the coupon and maturity for CCIF's Series D preferred shares (CCID)?

The Series D preferred carries a fixed 7.375% coupon and is due in 2028.

Did a ratings agency rate CCIF's new preferred shares and what was the rating?

Yes; Egan-Jones rated the Preferred Shares ‘BBB+’.

Is there an overallotment option on CCIF's preferred offering and how large is it?

Yes; underwriters have a 30-day option to purchase up to an additional 180,000 shares.