Welcome to our dedicated page for abrdn Asia-Pacific Income news (Ticker: FAX), a resource for investors and traders seeking the latest updates and insights on abrdn Asia-Pacific Income stock.
abrdn Asia-Pacific Income Fund Inc (FAX) delivers current income through international fixed income investments, offering investors exposure to debt securities across Asia-Pacific and global markets. This news hub provides authorized updates on corporate developments and portfolio strategy for this leading closed-end fund.
Access timely announcements including quarterly earnings reports, distribution declarations, and portfolio rebalancing decisions. Investors will find essential updates on market positioning and risk management strategies specific to FAX's focus on capital preservation and income generation.
Our curated news collection features official press releases, regulatory filings, and market analysis relevant to FAX's operations in dynamic international debt markets. Track corporate actions like share adjustments and strategic investments that impact the fund's performance.
Bookmark this page for streamlined access to FAX's financial communications. Check regularly for updates on distribution schedules, NAV changes, and macroeconomic insights affecting international fixed income investments.
KBRA has assigned a 'AA-' rating to Series B Mandatory Redeemable Preferred Shares (MRPS) issued by abrdn Asia-Pacific Income Fund, Inc. (NYSE: FAX). The agency also affirmed ratings for Series C, D, and E Senior Notes, with a Stable Outlook for all ratings. The ratings are supported by:
- Asset coverage (330% as of September 11, 2024)
- Credit quality and liquidity of underlying assets
- Management experience of the Fund's investment adviser, abrdn Asia
FAX is a non-diversified closed-end investment fund registered under the Investment Company Act of 1940. It primarily invests in Asia Pacific debt securities and has been listed on the NYSE since its IPO in April 1986.
abrdn Asia-Pacific Income Fund, Inc. (NYSE MKT:FAX) has announced the closing of a private offering of 4 million shares of Series B Mandatory Redeemable Preferred Shares due 2029. The Series B MRPS, with a liquidation value of $100 million, are rated AA- by Kroll Bond Rating Agency. Net proceeds will be used for new portfolio investments, refinancing or repayment of existing debt, and general purposes.
The Fund's current leverage includes a $100 million 364-day Syndicated Revolving Credit Facility maturing July 30, 2025, and various Senior Secured Notes. The strategic use of leverage is beneficial to the Fund's income generation due to the positive interest-rate differential. Management remains optimistic about diverse fixed income investment opportunities in the Asia-Pacific region.
abrdn Asia-Pacific Income Fund, Inc. (NYSE American:FAX) has announced a 1-for-6 reverse stock split of its common stock, effective September 9, 2024. This move aims to potentially increase the market price per share and broaden the range of potential investors. Key points include:
- Every six shares will be converted into one share
- The Fund's ticker symbol remains FAX, but with a new CUSIP number
- Monthly distribution will be adjusted from $0.0275 to $0.165 per share
- No change in monthly cash flow to stockholders or distribution on net asset value
- Fractional shares will be sold and proceeds distributed pro rata to stockholders
The reverse split is expected to reduce per share transaction costs and potentially improve market liquidity for the Fund's common stock.
abrdn Global Infrastructure Income Fund (ASGI) and abrdn Asia-Pacific Income Fund (FAX) announced their distributions for shareholders as of November 22, 2022. The distribution per share is $0.1200 for ASGI and $0.0275 for FAX, both paid on November 30, 2022. The distribution is estimated to derive entirely from the net investment income for FAX, while ASGI's distribution is a return of capital. The funds aim to provide stable distributions, supplemented by realized capital gains.
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