CREDIT SUISSE HIGH YIELD CREDIT FUND ANNOUNCES BOARD APPROVAL OF A REVERSE SHARE SPLIT

Rhea-AI Summary

Credit Suisse High Yield Credit Fund (NYSE American: DHY) approved a 1-for-10 reverse share split of its common shares, expected to take effect before trading opens on September 30, 2026 for shareholders of record on September 29, 2026. DHY will keep its ticker but receive a new CUSIP, changing from 22544F103 to 22544F202. The Fund states that total shareholder investment value and portfolio holdings will be unchanged, though each account will show one-tenth as many shares at a proportionally higher NAV per share. Fractional shares will be cashed out. The Fund’s name is expected to change to UBS AssetManagement High Yield Credit Fund on September 4, 2026.

Positive

• 1-for-10 reverse split aims to increase DHY market price per share
• Total shareholder value and portfolio holdings unchanged by reverse split
• Same ownership percentage maintained for each shareholder post-split
• Higher share price may broaden investor base and improve liquidity, per Board and Adviser

Negative

• Shareholders receiving cash for fractional shares will get proceeds net of customary fees and expenses

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NEW YORK, Aug. 18, 2026 /PRNewswire/ -- Credit Suisse High Yield Credit Fund (NYSE American: DHY) (the "Fund") announced today that the Fund's Board of Trustees (the "Board") has approved a 1-for-10 reverse share split of the Fund's common shares of beneficial interest ("common shares").

The Fund anticipates completing a 1-for-10 reverse share split prior to the open of trading on the NYSE American on September 30, 2026 for common shareholders of record as of the close of business on September 29, 2026. Trading in the Fund's common shares on a split adjusted basis is expected to begin at the open of trading on the NYSE American on September 30, 2026. The Fund's common shares will continue trading on the NYSE American under its existing ticker symbol (NYSE American: DHY) but will be assigned the new CUSIP number below.

Ticker	Fund Name	Current CUSIP	New CUSIP
DHY	Credit Suisse High Yield Credit Fund*	22544F103	22544F202

* As previously announced, the Fund's name will change from "Credit Suisse High Yield Credit Fund" to "UBS Asset Management High Yield Credit Fund" effective September 4, 2026.

As a result of the reverse share split, every ten shares of the Fund's outstanding common shares will be converted into one common share. The reverse share split will decrease the number of the Fund's common shares outstanding and potentially increase the market price per common share by a proportional amount. While the number of the Fund's outstanding common shares will decline, neither the Fund's portfolio holdings nor the total value of shareholders' investments in the Fund will be affected as a result of the reverse share split. After the reverse share split, common shareholders' accounts will reflect proportionally fewer common shares with a higher net asset value per common share and each common shareholder will hold the same percentage of the Fund's outstanding common shares as such shareholder held immediately prior to the reverse share split, subject to adjustments for fractional shares resulting from the reverse share split (discussed below).

No fractional shares will be issued as a result of the reverse share split. Fractional shares that may result from the reverse share split will be aggregated and sold on the NYSE American by the Fund's transfer agent and the proceeds will be distributed pro rata among shareholders who would otherwise have received fractional shares in the reverse share split. The pro rata cash payment received by shareholders will be net of any customary fees and expenses in proportion to their allocable share of the total proceeds of the sales. Shareholders will be receiving additional information regarding the reverse share split from Computershare Trust Company, N.A., the Fund's transfer agent.

The Board and UBS Asset Management (Americas) LLC (the "Adviser") believe that increasing the market price per share of the Fund's common shares through the reverse share split may broaden the range of potential investors in the Fund's common shares, thereby potentially improving the market for, and liquidity of, the Fund's common shares. This could have the effect of reducing the per share transaction costs associated with buying or selling the Fund's common shares in the secondary market.

About UBS Asset Management (Americas) LLC. UBS Asset Management (Americas) LLC, the Fund's investment adviser, is part of the Asset Management business of UBS Group AG, a leading global financial services organization headquartered in Zurich.

Forward-Looking Statements

This press release contains certain statements that may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the Fund and the Adviser believe the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Fund's reports that are filed with the SEC. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the Fund and the Adviser do not assume a duty to update any forward-looking statement.

Risks of Investing in Closed-End Funds

Shares of many closed-end funds frequently trade at a discount from their asset value. Funds are subject to stock market risk, which is the risk that stock prices overall will decline over short or long periods, adversely affecting the value of an investment in a fund. There is no assurance that the Fund will achieve its investment objective. Past performance does not guarantee future results.

View original content:https://www.prnewswire.com/news-releases/credit-suisse-high-yield-credit-fund-announces-board-approval-of-a-reverse-share-split-302854757.html

SOURCE UBS Asset Management (Americas) LLC

FAQ

What did the DHY Board approve in August 2026 for Credit Suisse High Yield Credit Fund?

The Board approved a 1-for-10 reverse share split of DHY’s common shares. According to the Fund, every ten existing shares will convert into one share, reducing share count but keeping total investment value and portfolio holdings unchanged.

When will the DHY 1-for-10 reverse share split take effect on the NYSE American?

The DHY reverse share split is expected before market open on September 30, 2026. According to the Fund, it applies to shareholders of record at the close of business on September 29, 2026, with trading split-adjusted from September 30.

How will the DHY reverse share split affect Credit Suisse High Yield Credit Fund shareholders?

Each shareholder’s total investment value is expected to remain unchanged, but share count will drop by a factor of ten. According to the Fund, holders will own proportionally fewer shares at a higher net asset value per share, maintaining their ownership percentage.

What is the new CUSIP and ticker for Credit Suisse High Yield Credit Fund after the DHY reverse split?

DHY will keep its DHY ticker on NYSE American after the reverse split. According to the Fund, the CUSIP will change from 22544F103 to 22544F202, aligning with the split while preserving trading under the same symbol.

How are fractional shares handled in the DHY 1-for-10 reverse share split?

No fractional DHY shares will be issued after the reverse split. According to the Fund, fractional interests will be aggregated, sold by the transfer agent, and shareholders will receive pro rata cash proceeds net of customary fees and expenses.

Why are DHY and UBS Asset Management implementing a reverse split for Credit Suisse High Yield Credit Fund?

The Board and UBS Asset Management (Americas) LLC believe a higher share price may broaden DHY’s investor base. According to the Fund, this could potentially improve secondary-market liquidity and reduce per-share transaction costs for buying or selling DHY.

When will Credit Suisse High Yield Credit Fund change its name to UBS AssetManagement High Yield Credit Fund?

The Fund’s name is expected to change to UBS AssetManagement High Yield Credit Fund on September 4, 2026. According to the Fund, this name change is separate from the DHY 1-for-10 reverse share split effective later in September 2026.