C Share Portfolio Update

RNS Number : 2077I

NB Global Floating Rate Income Fund

28 June 2013

 



NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, TO

U.S. PERSONS OR INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.

28 June 2013

NB Global Floating Rate Income Fund Limited (the "Company")

C Share Update

The board of directors (the "Board") of NB Global Floating Rate Income Fund Limited (the "Company") today announces an update in relation to the Company's investment of the £363 million of gross proceeds from the issue of Sterling C Shares on 21 March 2013.

As at 28 June 2013, the Company had invested approximately 97.7% of the net proceeds of the C Share issue. The C Share Portfolio has therefore satisfied the percentage investment condition set out in the Prospectus, and the Board has determined that the Calculation Time (for the purpose of calculating the basis upon which the C Shares will be converted into Sterling Shares ("Conversion")) will be 28 June 2013.The Company expects that Conversion will take place shortly after the record date for the next quarterly dividend, which is currently expected to be mid July. The dividends for the period up to the Calculation Time attributable to existing Sterling Shareholders and C Shareholders will be excluded from the calculations of the Net Asset Value for the purpose of determining the Conversion Ratio.

A further announcement in respect of Conversion will be made in due course.

For further information, please contact:

BNP Paribas Securities Services S.C.A., Guernsey Branch

Sara Bourne

[phone]

ENDS

Background Information

The Company is a closed-ended investment company limited by shares incorporated under the laws of Guernsey on 10 March 2011, with registration number 53155. The Company targets an annualised yield per share in the region of 5% (net of fees and expenses), plus some capital appreciation, while seeking to protect investors from rising interest rates. The Company is managed by three experienced portfolio managers backed by an experienced credit team of over 30 investment professionals.

The Company is managed by Neuberger Berman Europe Limited, an indirect wholly-owned subsidiary of Neuberger Berman Group LLC. The Investment Manager has delegated certain of its responsibilities and functions to the sub-investment manager, Neuberger Berman Fixed Income LLC, also an indirect wholly-owned subsidiary of Neuberger Berman Group LLC. To find out more about the Company and Neuberger Berman Group LLC, please visit www.nbgfrif.com.

This document has been prepared by NB Global Floating Rate Income Fund Limited ("NBGFRIF") and is the sole responsibility of NBGFRIF. This document is not intended to be an investment advertisement or sales instrument and does not constitute an offer or an attempt to solicit offers for any securities in NBGFRIF in any jurisdiction. This document was prepared using the financial information available to NBGFRIF prior to the date of this announcement. This information is believed to be accurate but has not been audited by a third party. NBGFRIF does not accept any liability for actions taken on the basis of the information provided herein. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision.

 

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