ATLANTA, Oct. 25,
2024 /PRNewswire/ -- Invesco Senior Income Trust
(NYSE: VVR), a diversified, closed-end management investment
company, announced today the successful pricing and private
placement of Variable Rate Demand Mode Preferred Shares (VRDMs),
Series A and Series B, with qualified institutional buyers, as
defined in Rule 144A under the Securities Act of 1933, as amended
(Securities Act). The Fund issued $50,000,000 in aggregate liquidation preference
of Series A VRDMs and $50,000,000 in
aggregate liquidation preference of Series B VRDMs and used the
proceeds of the issuances to contemporaneously redeem its
outstanding Variable Rate Demand Preferred Shares (VRDPs), Series
W-7, with an aggregate liquidation preference of $100,000,000, in full.
The Series A and Series B VRDMs have a term redemption date of
November 1, 2034, upon which the
VRDMs are subject to mandatory redemption by the Fund.
Dividends on the Series A and Series B VRDMs are set weekly at a
rate established by the Fund's remarketing agent, subject to a
maximum rate that will increase over time in the event of an
extended period of unsuccessful remarketing. Each Series of
VRDMs includes a liquidity feature provided by a liquidity provider
that allows a holder of the VRDMs to have its shares purchased by
the liquidity provider in the event that a sell order by the holder
has not been matched with a purchase order and successfully settled
in a remarketing.
The Series A and Series B VRDMs are preferred shares of the Fund
and are senior, with priority in all respects, to the Fund's common
shares in liquidation and as to the payment of dividends; the VRDMs
of each Series rank junior to borrowings of the Fund and on parity
with each other.
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This communication does not constitute an offer for sale of
any securities. No VRDMs have been registered under the
Securities Act or any state securities laws. Unless so
registered, no VRDMs may be offered or sold in the United States except pursuant to an
exemption from the registration requirements of the Securities Act
and applicable state securities laws.
About Invesco Ltd.
Invesco Ltd. is a global
independent investment management firm dedicated to delivering an
investment experience that helps people get more out of life.
Our distinctive investment teams deliver a comprehensive
range of active, passive and alternative investment capabilities.
With offices in more than 20 countries, Invesco managed
$1.795 trillion in assets on behalf
of clients worldwide as of September 30,
2024. For more information, visit www.invesco.com.
Invesco Distributors, Inc. is the U.S. distributor for Invesco
Ltd.'s retail products. Invesco Advisers, Inc. is an
investment adviser; it provides investment advisory services to
individual and institutional clients and does not sell securities.
Each entity is a wholly owned indirect subsidiary of Invesco
Ltd.
Note: There is no assurance that a closed-end
fund will achieve its investment objective. Common shares are
bought on the secondary market and may trade at a discount or
premium to net asset value. Regular brokerage commissions
apply.
NOT A DEPOSIT l NOT FDIC INSURED l NOT GUARANTEED BY A BANK |
MAY LOSE VALUE | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
CONTACT: Closed-End Funds; 1-800-341-2929
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SOURCE Invesco Ltd.
