The Fund announced entry into a new $68 million credit facility with Société Générale. The new credit facility agreement replaces the credit facility agreement with the Fund’s previous credit facility provider.
The initial term of the new credit facility agreement is through November 18, 2022. The credit facility is secured by the Fund’s investments. Borrowings under the new credit facility are at an interest rate of L+ 160 basis points (with a zero basis point floor). Additional information about the Fund and its use of leverage can be found in the Fund’s annual and semi-annual shareholder reports, which are available on the Fund’s website at https://im.bnymellon.com/us/en/products/closed-end-funds.jsp. Information about the new credit facility agreement will be available in the Fund’s next semi-annual shareholder report. As of 2020-11-19, the Fund’s leverage was 28.1% and Multisector Bond Funds Group leverage was 29.0%.