ABRDN INCOME CREDIT STRATEGIES FUND (ACP) ANNOUNCES ISSUANCE OF SERIES A MANDATORILY REDEEMABLE PREFERRED SHARES
Prnewswire·2025-12-19 05:15

PHILADELPHIA, Dec. 18, 2025 /PRNewswire/ -- abrdn Income Credit Strategies Fund (NYSE: ACP) has closed a 100millionprivateofferingofSeriesAMandatorilyRedeemablePreferredSharesdueDecember18,2030.TheseSharesareratedA2byMoody′sInvestorsService,Inc.NetproceedsfromtheofferingwillbeusedprimarilytorefinancetheFund′sexistingdebtandtomakenewportfolioinvestments.ThetablebelowsummarizescertainkeytermsoftheFund′scurrentleverage:Amount(100 million private offering of Series A Mandatorily Redeemable Preferred Shares due December 18, 2030. These Shares are rated A2 by Moody's Investors Service, Inc. Net proceeds from the offering will be used primarily to refinance the Fund's existing debt and to make new portfolio investments. The table below summarizes certain key terms of the Fund's current leverage: Amount( in millions) Mood ...