NEW
YORK, June 3, 2022 /PRNewswire/ -- Neuberger
Berman High Yield Strategies Fund Inc. (NYSE American: NHS)
(the "Fund") announced today that it has successfully completed a
private placement of $26,500,000 via
a Floating Rate Senior Note ("Note") with a major unaffiliated
financial institution. The Note pays interest based on a floating
rate and matures in September
2023.
The transaction announced today increases the amount of leverage
employed by the Fund in order to bring it more in line with the
Fund's asset level following the Fund's recently completed
transferable rights offering, which resulted in the issuance of
4,763,981 shares of common stock and gross proceeds to the Fund of
approximately $40.9 million. The
proceeds from the issuance of the Note will be invested by the Fund
in additional portfolio securities consistent with the Fund's
investment objective and primary investment strategy.
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent,
employee-owned investment manager. The firm manages a range of
strategies—including equity, fixed income, quantitative and
multi-asset class, private equity, real estate and hedge funds—on
behalf of institutions, advisors and individual investors globally.
With offices in 25 countries, Neuberger Berman's diverse team has
over 2,500 professionals. For eight consecutive years, the company
has been named first or second in Pensions & Investments Best
Places to Work in Money Management survey (among those with 1,000
employees or more). In 2020, the PRI named Neuberger Berman a
Leader, a designation awarded to fewer than 1% of investment firms
for excellence in Environmental, Social and Governance (ESG)
practices. The PRI also awarded Neuberger Berman an A+ in every
eligible category for our approach to ESG integration across asset
classes. The firm manages $447
billion in client assets as of March
31, 2022. For more information, please visit our website at
www.nb.com.
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