NEUBERGER BERMAN ENERGY INFRASTRUCTURE AND INCOME FUND ANNOUNCES AMENDMENT TO LEVERAGE FACILITY

Rhea-AI Summary

Neuberger Berman Energy Infrastructure and Income Fund (NYSE American: NML) has announced an amendment to its revolving credit facility to increase available debt financing. The amendment expands the lender's total commitment from $125 million to $150 million, aligning the facility more closely with the Fund's current asset level.

Positive

• Increased borrowing capacity by $25 million
• Enhanced financial flexibility through expanded credit facility

Negative

• Higher potential leverage exposure and associated risks
• Increased interest expense burden

NEW YORK, Jan. 29, 2025 /PRNewswire/ -- Neuberger Berman Energy Infrastructure and Income Fund Inc. (NYSE American: NML) (the "Fund") has announced today that it has amended its revolving credit facility (the "Facility") to increase the amount of available debt financing in order to bring it more in line with the Fund's current asset level. Under the amended terms of the Facility, the lender's total commitment increased from $125 million to $150 million.

About Neuberger Berman

Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with over 2,800 employees in 26 countries. The firm manages $508 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger Berman's investment philosophy is founded on active management, fundamental research and engaged ownership. The firm's leadership in stewardship and sustainable investing is recognized by the PRI based on its consecutive above median reporting assessment results. Neuberger Berman has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last ten years (firms with more than 1,000 employees). Visit www.nb.com for more information. Data as of December 31, 2024.

Statements made in this release that look forward in time involve risks and uncertainties. Such risks and uncertainties include, without limitation, the adverse effect from a decline in the securities markets or a decline in the Fund's performance, a general downturn in the economy, competition from other closed end investment companies, changes in government policy or regulation, inability of the Fund's investment adviser to attract or retain key employees, inability of the Fund to implement its investment strategy, inability of the Fund to manage rapid expansion and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations.

Contact:
Neuberger Berman Investment Advisers LLC
Investor Information
(877) 461-1899

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SOURCE Neuberger Berman

FAQ

What is the new credit facility limit for Neuberger Berman Energy Infrastructure Fund (NML)?

The Fund's credit facility limit has been increased to $150 million from the previous $125 million.

How much did NML increase its credit facility by in January 2025?

NML increased its credit facility by $25 million, from $125 million to $150 million.

Why did NML amend its revolving credit facility in 2025?

NML amended its revolving credit facility to bring the available debt financing more in line with the Fund's current asset level.

What are the implications of NML's increased credit facility for investors?

The increased credit facility provides NML with greater financial flexibility but also potentially increases leverage exposure and interest expenses for the Fund.