NEW YORK, Oct. 18, 2023 - Carlyle Credit Income Fund (the "Fund") (NYSE: CCIF) today announced that it has priced an underwritten public offering of 1.2 million shares of its 8.75% Series A Preferred Shares due 2028 (the "Preferred Shares") at a public offering price of $25 per share, which will result in net proceeds to the Fund of approximately $28.8 million after payment of underwriting discounts and commissions and estimated offering expenses payable by the Fund. The Preferred Shares are rated 'BBB+' by Egan-Jones Ratings Company, an independent rating agency.
The offering is expected to close on October 24, 2023, subject to customary closing conditions. The Fund has granted the underwriters a 30-day option to purchase up to an additional 180,000 shares of Preferred Shares. The Preferred Shares are expected to be listed on the New York Stock Exchange and to trade thereon within 30 days of the original issue date under the symbol "CCIA."
Ladenburg Thalmann & Co. Inc. is acting as lead book-running manager for the offering, and B. Riley Securities, Inc., Oppenheimer & Co. Inc., Piper Sandler & Co. and InspereX LLC are acting as joint book-running managers for the offering.
Investors should consider the Fund's investment objectives, risks, charges, and expenses carefully before investing. The preliminary prospectus supplement dated October 18, 2023 and the accompanying prospectus dated September 29, 2023, which have been filed with the Securities and Exchange Commission ("SEC"), contain this and other information about the Fund and should be read carefully before investing. The information in the preliminary prospectus supplement, the accompanying prospectus and this press release is not complete and may be changed. The preliminary prospectus supplement, the accompanying prospectus and this press release are not offers to sell these securities and are not soliciting an offer to buy these securities in any state where such offer or sale is not permitted.
A shelf registration statement relating to these securities is on file with and has been declared effective by the SEC. The offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained by writing Ladenburg Thalmann & Co. Inc. at 640 Fifth Avenue, 4th Floor, New York, New York 10019, by calling toll-free 1-800-573-2541 or by sending an e-mail to: prospectus@ladenburg.com; copies may also be obtained for free by visiting EDGAR on the SEC's website at http://www.sec.gov.
Egan-Jones Ratings Company is a nationally recognized statistical rating organization (NRSRO). A security rating is not a recommendation to buy, sell or hold securities, and any such rating may be subject to revision or withdrawal at any time by the applicable rating agency.
ABOUT CARLYLE CREDIT INCOME FUND
Carlyle Credit Income Fund (NYSE: CCIF) is an externally managed closed-end fund focused on investing in primarily equity and junior debt tranches of collateralized loan obligations ("CLOs"). The CLOs are collateralized by a portfolio consisting primarily of U.S. senior secured loans with a large number of distinct underlying borrowers across various industry sectors. With Carlyle (NASDAQ: CG) as its investment adviser, CCIF draws upon the significant scale and resources of Carlyle as one of the world's largest CLO managers. For more information visit www.carlylecreditincomefund.com.
FORWARD-LOOKING STATEMENTS
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the prospectus and the Fund's other filings with the SEC. The Fund undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
www.carlylecreditincomefund.com
SOURCE Carlyle Credit Income Fund
