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. (NYSE American: FAX) is a United States-based closed-end, non-diversified management investment company with a principal objective of seeking current income along with capital appreciation. Public communications describe the fund as investing in Asian, Australian, European and other debt securities, and as part of a broader family of closed-end funds managed under the abrdn or Aberdeen Investments name.
The news flow for FAX often centers on distribution announcements, shareholder meetings, and corporate actions involving the fund. Regular notices outline monthly or periodic distributions, including estimates of how much of each payment comes from net investment income, realized capital gains or return of capital. These items explain the fund’s distribution policy, which aims to provide a stable distribution while complying with U.S. tax rules and the Investment Company Act of 1940.
Another key category of news involves governance and board matters. For example, the fund has reported results of annual meetings of shareholders, including the election of directors, continuation of director terms, and changes in board size or committee leadership in line with its corporate governance policies and retirement provisions.
More recently, abrdn Asia-Pacific Income Fund, Inc. has been featured in announcements about a proposed reorganization in which abrdn Global Income Fund, Inc. (FCO) would merge into FAX. These releases describe FAX as the acquiring fund, note that there are no proposed changes to FAX’s current investment objectives or policies as a result of the transaction, and explain that the reorganization is intended to be treated as a tax-free reorganization for U.S. federal income tax purposes, subject to regulatory review and shareholder approval for the acquired fund.
Investors following FAX-related news can therefore expect coverage of distribution details, estimates of distribution sources, governance developments, and updates on the proposed merger with FCO, along with reminders about the risks of closed-end fund investing, including the potential for shares to trade at a premium or discount to net asset value.
abrdn Global Income Fund (NYSE American: FCO) set a record date of December 12, 2025 for a shareholder vote on a proposed reorganization into abrdn Asia-Pacific Income Fund (NYSE American: FAX). A special meeting is currently targeted for March 12, 2026. The Proxy Statement was filed with the SEC on September 17, 2025 but was delayed by a federal government shutdown and will be mailed after the SEC declares it effective.
The funds' boards state the Reorganization is intended to be a tax-free reorganization for U.S. federal income tax purposes and, if approved, is expected to close in the second quarter of 2026. FAX shareholders are not required to vote.
abrdn Global Income Fund, Inc. (NYSE American: FCO) and abrdn Asia-Pacific Income Fund, Inc. (NYSE American: FAX) filed a preliminary proxy/registration statement with the SEC on September 17, 2025 proposing a reorganization of FCO into FAX. The Proxy must be declared effective by the SEC before it can be mailed to FCO shareholders for a vote.
Due to the federal government shutdown beginning October 1, 2025, the SEC is operating with limited staff, which has delayed review and the expected effectiveness and mailing of the Proxy, and therefore delayed the anticipated timing of the reorganization if approved. The Proxy may be amended or withdrawn and will not be distributed until declared effective.
abrdn Global Income Fund (NYSE American: FCO) and abrdn Asia-Pacific Income Fund (NYSE American: FAX) have announced a proposed merger, where FCO will merge into FAX. The Boards of Directors of both funds have approved the reorganization, which requires FCO shareholder approval but not FAX shareholder approval.
The merger is scheduled for a shareholder vote on December 10, 2025, with a record date of September 11, 2025. The transaction is intended to be structured as a tax-free reorganization for U.S. federal income tax purposes. Notably, there will be no changes to FAX's current investment objectives or policies as a result of the merger.
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.
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