NEUBERGER BERMAN REAL ESTATE SECURITIES INCOME FUND ANNOUNCES AMENDMENT TO LEVERAGE ARRANGEMENTS

Rhea-AI Summary

Neuberger Berman Real Estate Securities Income Fund (NYSE American: NRO) has announced significant changes to its leverage facility. The fund has restructured its facility from a revolving credit facility to a margin facility and increased its available committed debt financing from $70 million to $90 million. This $20 million increase in debt financing capacity was implemented to better align with the Fund's current asset level. The modification represents a strategic move in the Fund's financial structure and leverage arrangements.

Positive

• Increased debt financing capacity by $20 million to $90 million
• Better alignment with Fund's current asset level
• Enhanced financial flexibility through restructured leverage facility

Negative

• Higher leverage could increase financial risk
• Potential increase in interest expenses due to larger debt capacity

NEW YORK, June 10, 2025 /PRNewswire/ -- Neuberger Berman Real Estate Securities Income Fund Inc. (NYSE American: NRO) (the "Fund") has announced today that it has amended its leverage facility (the "Facility") to, among other things, restructure the Facility from a revolving credit facility to a margin facility and to increase the amount of available committed debt financing from $70 million to $90 million in order to bring it more in line with the Fund's current asset level.  

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 $515 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. 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 eleven years (firms with more than 1,000 employees). Visit www.nb.com for more information. Data as of March 31, 2025.

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 changes did Neuberger Berman Real Estate Securities Income Fund (NRO) make to its leverage facility?

NRO restructured its facility from a revolving credit facility to a margin facility and increased available committed debt financing from $70 million to $90 million.

How much did NRO increase its debt financing capacity?

NRO increased its debt financing capacity by $20 million, from $70 million to $90 million.

Why did NRO amend its leverage facility?

The fund amended its leverage facility to better align with its current asset level and restructure from a revolving credit facility to a margin facility.

What type of facility did NRO change to?

NRO changed from a revolving credit facility to a margin facility.