Neuberger High Yield Strategies Fund Inc. reports fund developments for a closed-end management investment company focused on high total return through income and capital appreciation. Under normal market conditions, the Fund invests at least 80% of total assets in below-investment-grade debt securities of U.S. and foreign issuers, with capacity for other securities, financial instruments and collateralized loan obligations.
Recurring news for NHS centers on monthly common-stock distributions under its level distribution policy, the income and expense factors that affect those distributions, and capital actions such as transferable rights offerings. Updates also reference NAV-based pricing mechanics, leverage costs, fund fees and the role of Neuberger Berman Investment Advisers LLC as investment adviser.
Neuberger Berman High Yield Strategies Fund (NYSE American: NHS) announced a planned tender offer to repurchase up to 25% of its outstanding shares at 96% of its net asset value per share. The offer is expected to be completed before December 31, 2020. This move follows an agreement with Saba Capital Management, which includes Saba halting its proxy solicitation efforts. Further details will be provided in future announcements, and the fund manages $374 billion in assets as of September 30, 2020.
Neuberger Berman High Yield Strategies Fund (NYSE American: NHS) has declared a monthly distribution of $0.0905 per share, payable on October 30, 2020. The record date for this distribution is October 15, 2020, with an ex-date of October 14, 2020. The Fund aims to maintain stable monthly distributions, contingent on income stability and other financial factors. Future distributions may include net investment income, capital gains, and return of capital. The source and tax characteristics of 2020 distributions will be finalized at year-end.
Neuberger Berman High Yield Strategies Fund (NYSE American: NHS) has declared a monthly distribution of $0.0905 per share, payable on September 30, 2020. The record date is September 15, 2020, and the ex-date is September 14, 2020. The fund aims to maintain this distribution level, which may derive from net investment income, realized capital gains, or return of capital, depending on market conditions and fund performance. The firm manages $357 billion in client assets as of June 30, 2020.
On August 5, 2020, Neuberger Berman High Yield Strategies Fund Inc. (NHS) announced the successful refinancing of its leverage through a private placement of 7.6 million Mandatory Redeemable Preferred Shares, totaling $95 million. The Fund used the proceeds to prepay Floating Rate Senior Notes and repurchase previously issued preferred stock, maintaining its leverage level. This refinance aims to better position the Fund against market volatility and ensure compliance with asset coverage requirements.
Neuberger Berman High Yield Strategies Fund (NYSE American: NHS) declared a monthly distribution of $0.0905 per share, payable on August 31, 2020, with a record date of August 17, 2020 and an ex-date of August 14, 2020. The fund aims to maintain regular distributions, contingent on factors such as income stability and fund expenses. Future distributions may consist of net investment income, realized capital gains, or return of capital. The exact tax characteristics of distributions will be clarified by year-end.
Neuberger Berman High Yield Strategies Fund (NYSE American: NHS) has declared a monthly distribution of $0.0905 per share, payable on July 31, 2020. The record date for this distribution is July 15, 2020 and the ex-date is July 14, 2020. The Fund aims to maintain this distribution level, subject to market conditions and factors like income stability and expenses. Future distributions may include net investment income, capital gains, or return of capital. There’s no guarantee of continual payments and the source of distributions will be clarified after 2020.