#United States #New York #NHS #preferred shares #Neuberger Fund

Neuberger High Yield Strategies Fund Announces Increase in Leverage

In an important development for investors, the Neuberger High Yield Strategies Fund Inc. (NYSE American: NHS) has revealed plans to enhance its leverage capabilities. This move comes following an approval by its Board of Directors to increase the available debt financing by an impressive $25 million under its existing revolving debt financing facility. This facility is in partnership with a notable unaffiliated financial institution, indicating a strategic approach to boosting financial resources.

In addition to this increase, the Fund is set to issue $10 million of additional Mandatory Redeemable Preferred Shares, known as Series D Preferred Shares. This plan is contingent upon the successful completion of background documentation and standard closing conditions. With these changes, the Fund is looking to finalize the amendment to its Revolving Loan Facility and the issuance of new shares within the upcoming week.

Upon completion of these alterations to its financial strategies, the Neuberger Fund will now have a total access to committed debt financing reaching up to $135 million. Furthermore, the outstanding Series D Preferred Shares will amount to $50 million, enhancing the Fund's capital structure significantly.

The intention behind these amendments to the Fund's leverage arrangements is to align its available resources with its current asset level, especially considering the outcomes of its transferable rights offering conducted earlier in the year. By expanding its financial capabilities, Neuberger aims to fortify its position in the market and ensure it can meet the demands of its investor base effectively.

About Neuberger

Founded in 1939, Neuberger Berman is a highly regarded employee-owned and independent investment manager. With a global workforce of approximately 3,000 individuals spanning 26 countries, the firm oversees a vast portfolio, managing around $613 billion in equities, fixed income, private markets, real estate, and hedge fund investments for various clients including global institutions, financial advisors, and individual investors.

Neuberger Berman's investment philosophy is grounded in active management accompanied by fundamental research and engaged ownership. The firm has received accolades for its commitment to its two primary constituencies: clients and employees. Recently, they were distinguished as the Best Asset Manager for Institutional Investors in the United States by Crisil Coalition Greenwich and recognized as the #1 Best Place to Work in Money Management by Pensions & Investments, specifically for companies with over 1,000 employees.

As a truly independent entity, Neuberger operates without a corporate parent or unaffiliated external shareholders, which reinforces its dedication to long-term value creation for its investors. For further details regarding their services and accomplishments, investors and interested parties can visit their official website at www.nb.com. This site also hosts important disclosures and additional information on the firm's award recognitions.

In summary, the steps taken by Neuberger High Yield Strategies Fund reflect a proactive approach to adapting its financial strategies to better serve its clients and adapt to market conditions. As they finalize these enhancements, the Fund looks to not only stabilize its current standing but also to pave the way for future growth and success in the investment landscape.