Proposed C Share Issue

RNS Number : 6180M

NB Global Floating Rate Income Fund

18 August 2011

 



18 August 2011

NB Global Floating Rate Income Fund Limited Proposed C Share Issue

In response to demand from investors and in light of the continued attractive investment environment currently being seen in the senior secured bank loan market, the board of NB Global Floating Rate Income Fund Limited (the "Company") announces that it is considering raising additional capital through an issue of C shares. 

The senior secured bank loan market in which the Company invests has held up well in the current volatile market. As would be expected, the Company's NAV has outperformed the equity markets (S&P 500 Index) by more than 5.0% from mid July to 16 August 2011 demonstrating the stability of the Company's portfolio relative to equities. 

In the Investment Manager's view the fundamental attractions and outlook for senior secured bank loans have not changed. Despite the relatively moderate decline in the Company's NAV in the recent market volatility, the share price has performed robustly reflecting the attractions of the Company's investment strategy in the current environment and continued investor demand for access to senior secured loans.

Any fund raising will be subject to market conditions and further details will be announced in due course.

For further information, please contact:

Neuberger Berman Europe Limited

(Investment Manager)                                                                                      [phone]

Nick Hoar

Damian Holland

Anji Stewart

Oriel Securities Limited

(Sole Sponsor, Joint Financial Adviser & Bookrunner)                                    [phone]

Joe Winkley

Neil Langford

James Brodie

Dexion Capital plc

(Joint Financial Adviser & Bookrunner)                                                           [phone]     

Ravi Anand

Justin Zawoda-Martin

www.nbgfrif.com 

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