Carlyle Credit Income Fund (NYSE: CCIF) Announces Private Placement of Convertible Preferred Shares

Carlyle Credit Income Fund, a closed-end fund specializing in investing primarily in equity and junior debt tranches of collateralized loan obligations, recently disclosed the private placement of approximately 20,000 shares of its 7.50% Series C Convertible Preferred Shares due in 2030. The Fund entered into a purchase agreement for the issuance and sale of these shares, generating net proceeds of around $18.6 million from the offering, before expenses.

The Convertible Preferred Shares hold a liquidation preference of $1,000 per share and entail certain rights for holders concerning liquidating distributions, dividends, and redemptions. These shares are senior securities, ranking above common shares and alongside other series of preferred shares issued by the Fund. The Convertible Preferred Shares are subject to mandatory redemption on January 31, 2030, at a predetermined price.

Shareholders of the Convertible Preferred Shares have distinct privileges, including the option to convert their shares into common shares under specific conditions. Additionally, provisions are set in place for the Fund’s obligation to redeem the shares in instances like a change of control or a merger.

Moreover, the Fund issued a press release on January 31, 2025, outlining details of the private placement. This release, along with the specifics of the Convertible Preferred Shares and related agreements, is being filed with the U.S. Securities and Exchange Commission to maintain transparency and regulatory compliance.

The Convertible Preferred Shares and their related Common Shares are being issued in adherence to an exemption from registration under the Securities Act of 1933. The Fund aims to utilize the net proceeds from this offering for investment purposes according to its objectives and strategies, as well as for distributions and general working capital.

Carlyle Credit Income Fund, overseen by Carlyle Global Credit Investment Management L.L.C., a subsidiary of Carlyle, focuses on CLO investments and leverages its extensive resources and management expertise in the field. Investors and interested parties can find comprehensive information on the Fund’s official website.

The Fund, through this private placement, continues to strengthen its financial position and expand its investment capabilities within the structured credit market, aiming to drive value for its shareholders while upholding regulatory standards and investor transparency.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Carlyle Credit Income Fund’s 8K filing here.

About Carlyle Credit Income Fund

Carlyle Credit Income Fund is a close ended fixed income mutual fund launched and managed by Vertical Capital Asset Management, LLC. The fund is co – managed by Behringer Advisors, LLC. The Fund invests mainly in fixed-income securities. The fund invests in stocks of companies operating across diversified sectors.