The Fund announced that it completed its previously announced private placement of $100 million of 3.38% Series L Mandatory Redeemable Preferred Shares (“MRP Shares”) and $75 million of 3.60% Series M MRP Shares. The proceeds from the Series L and Series M MRP Shares were used to redeem all 5,000,000 shares of its 3.50% Series F MRP Shares (aggregate liquidation preference of $125 million) and all 1,000,000 of its 3.37% Series K MRP Shares (aggregate liquidation preference of $25 million).

As previously announced, the remaining funding of $25 million of Series N MRP Shares will be issued on May 12, 2020. As of 2020-02-11, the Fund’s leverage was 36.8% and MLP Funds Group leverage was 31.3%.