PHILADELPHIA, May 8, 2012 /PRNewswire/ -- Aberdeen Asia-Pacific
Income Fund, Inc. (NYSE AMEX: FAX) (the "Fund"), a $2.6 billion closed-end fixed income fund, on
April 11, 2012, announced that
it has renewed its $600 million
credit facility with a syndicate of major financial institutions
led by Scotiabank Global Banking and Markets, the wholesale banking
arm of the Scotiabank Group. The renewal marks the continuation of
the Fund's leverage capabilities.
"We are very pleased to have successfully collaborated once
again with Scotiabank and the other major financial institutions to
renew the facility," said Christian
Pittard, President of the Fund.
John Morale, Managing Director
and Global Industry Head of Financial Services for Scotiabank's
Global Banking and Markets division added: "This continues to be a
landmark transaction. The US$600
million financing remains one of the largest syndicated
financings for a 1940 Act regulated closed-end mutual fund ever
completed and reaffirms Scotiabank's preeminent position as one of
the leaders in the Financial Services industry."
Leader in Emerging Market Closed-End
Funds
Aberdeen directly manages
eleven U.S. exchange-listed closed-end funds and one Canadian
investment company:
- Aberdeen Asia-Pacific Income Fund, Inc. (NYSE AMEX: FAX)
- Aberdeen Asia-Pacific Income Investment Company Limited (TSX:
FAP)
- Aberdeen Australia Equity Fund, Inc. (NYSE AMEX: IAF)
- Aberdeen Chile Fund, Inc. (NYSE AMEX: CH )*
- Aberdeen Emerging Markets Telecommunications and Infrastructure
Fund, Inc. (NYSE AMEX: ETF )
- Aberdeen Global Income Fund, Inc. (NYSE AMEX: FCO)*
- Aberdeen Indonesia Fund, Inc. (NYSE AMEX: IF )
- Aberdeen Israel Fund, Inc. (NYSE AMEX: ISL )
- Aberdeen Latin America Equity Fund, Inc. (NYSE AMEX: LAQ)
- The Asia Tigers Fund, Inc. (NYSE: GRR)
- The India Fund, Inc. (NYSE: IFN)
- The Singapore Fund, Inc. (NYSE: SGF)
In addition, Aberdeen serves as
investment sub-advisor to two other U.S. exchange-listed closed-end
funds managed by First Trust:
- First Trust /Aberdeen Global Opportunity Income Fund, Inc.
(NYSE: FAM)
- First Trust /Aberdeen Emerging Opportunity Fund, Inc. (NYSE:
FEO)
About Aberdeen Asset Management
Aberdeen Asset Management PLC, the parent company of
Aberdeen Asset Management Inc., is an independently- run asset
manager listed on the London Stock Exchange since 1991, and
operating from 31 offices in 23 countries (the "Aberdeen Group").
The Aberdeen Group invests on behalf of institutional and wholesale
clients, primarily in equities, fixed income, alternative
investment strategies and property. The Aberdeen Group manages more
than US$270.3 billion of assets for
both institutions and private individuals as of December 31, 2011.
For more information, please visit www.aberdeen-asset.us/cef
About Scotiabank:
Scotiabank is a Canadian-based premier global financial
institution, founded in 1832, with over 75,000 employees, servicing
approximately 19 million customers in over 55 countries around the
world. Scotiabank offers a diverse range of products and services
including personal, commercial, corporate and investment banking.
With more than $579 billion in assets
(as at October 31, 2011), Scotiabank
trades on the Toronto (BNS) and
New York Exchanges (BNS). For more information please visit
www.scotiabank.com.
About Global Banking and Markets:
Scotiabank's Global Banking and Markets division provides
corporate and investment banking and capital markets products and
services to corporate, institutional and government clients around
the globe. With offices throughout the Americas, Europe and Asia
Pacific, Global Bank and Markets offer an efficient
wholesale banking platform and expansive network of professionals.
It has 30 offices and more than 300 relationship managers organized
around industry specialties. For more information, please visit
gbm.scotiabank.com.
Investors should consider a fund's investment objectives,
risks, charges and expenses carefully before investing. A copy of
the prospectus for Aberdeen Chile Fund, Inc. and
Aberdeen Global Income Fund, Inc. that contains this and
other information about the fund may be obtained by calling
866-839-5205. Please read the prospectus carefully before
investing. Investing in funds involves risk, including possible
loss of principal.
Closed-end funds have a one-time initial public offering and
then are subsequently traded on the secondary market through one of
the stock exchanges. The investment return and principal value will
fluctuate so that an investor's shares may be worth more or less
than the original cost. Shares of closed-end funds may trade above
(a premium) or below (a discount) the net asset value (NAV) of the
fund's portfolio. There is no assurance that a fund will achieve
its investment objective. Past performance does not guarantee
future results.
In the United States, Aberdeen
Asset Management (AAM) is the marketing name for the following
affiliated, registered investment advisers: Aberdeen Asset
Management Inc., Aberdeen Asset Managers Ltd, Aberdeen Asset
Management Ltd and Aberdeen Asset Management Asia Ltd, each of
which is wholly owned by Aberdeen Asset Management PLC.
"Aberdeen" is a U.S. registered
service mark of Aberdeen Asset Management PLC.
The above is for information purposes only and should not be
considered as an offer, or solicitation, to deal in any of the
investments mentioned herein. AAMI does not warrant the accuracy,
adequacy or completeness of the information and materials contained
in this document and expressly disclaims liability for errors or
omissions in such information and materials.
SOURCE Aberdeen Asia-Pacific Income Fund, Inc.
