Result of the Issue

RNS Number : 7764J

NB Global Floating Rate Income Fund

22 July 2013

 



NB Global Floating Rate Income Fund Issue of Equity

22 July 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.

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

Result of the Issue

Further to the announcement of 17 July 2013, the Board of the Company is pleased to announce that it has raised gross proceeds of £ 45.3 million through the issue for cash (the "Issue"), subject to Admission, of 41,054,257 new Sterling Shares and 5,761,807 new US Dollar Shares (the "Shares").  The issue price was 100.9p and 101.9c, a 2% premium to the NAV calculated at close of business on 17 July 2013 and as such, the Issue has been accretive to existing investors. The demand for Sterling and US Dollar Shares was over-subscribed and following Admission the Company will have no further authority to issue further Shares. Accordingly the Board will consider undertaking the necessary actions to permit the further issue of Shares and manage any premium to NAV.

Application will be made to the London Stock Exchange for the Shares to be admitted to trading on the Main Market of the London Stock Exchange and trading on the Official List and Admission is expected on Thursday 25 July 2013. 

The New Sterling and US Dollar Shares will rank pari passu with, and will have the same rights as the existing Sterling and US Dollar Shares. 

Following admission, the Company will have 815,552,256 Sterling Shares and 63,824,567 US Dollar Shares in issue.

US Dollar Shares have 1 vote per share, and Sterling Shares have 1.6 votes per share; following Admission the total number of voting rights in the Company therefore will be 1,368,708,176. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FSA's Disclosure and Transparency Rules.

For further information, please contact:

Neuberger Berman Europe Limited                                                                       [phone]

Damian Holland

Anji Stewart

Oriel Securities Limited                                                                                               [phone]

Neil Winward

Mark Bloomfield

Dexion Capital plc                                                                                                           [phone]

Ravi Anand

Katie Standley

 

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