Neuberger Berman Real Estate Securities Income Fund Announces Amendment to Leverage Facility | national news
NEW YORK, November 19, 2021 / PRNewswire / – Neuberger Berman Real Estate Securities Income Fund Inc. (American NYSE: NRO) (the âFundâ) today announced that it has amended its financing facility (the âFacilityâ) in order, among other things, to increase the amount of debt financing available to bring it more in line with the level of current assets of the Fund. Under the amended terms of the facility, the lender’s total liability under the revolving credit facility was increased from $ 40 million To $ 70 million. In addition to the revolving credit facility, the Fund continues to have a $ 30 million Five-year fixed-rate term loan, maturing in September 2024.
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent and employee-owned investment manager. The company manages a range of strategies, including equities, fixed income, quantitative and multi-asset classes, private funds, real estate and hedge funds, on behalf of institutions, advisers and investors. individual investors around the world. With offices in 25 countries, Neuberger Berman’s diverse team consists of more than 2,400 professionals. For seven consecutive years, the company has been named first or second in the Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 or more employees). In 2020, the PRI named Neuberger Berman a Leader, a designation awarded to less than 1% of investment firms for excellence in environmental, social and governance (ESG) practices. The PRI also awarded Neuberger Berman an A + in each eligible category for our approach to ESG integration across all asset classes. The company manages $ 437 billion in customer assets at September 30, 2021. For more information, please visit our website at www.nb.com.
Statements made in this press release which are projected over time involve risks and uncertainties. These risks and uncertainties include, but are not limited to, the negative effect of a downturn in the securities markets or a decline in the performance of the Fund, a general downturn in the economy, competition from other companies. closed-end investment, changes in government policy or regulation, the inability of the Fund’s investment advisor to attract or retain key employees, the Fund’s inability to implement its investment strategy, the Fund’s inability to cope with rapid expansion and unforeseen costs and other effects associated with legal proceedings or investigations by government and self-regulatory bodies.
Neuberger Berman Investment Advisers LLC
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