Carlyle Credit Income Fund Completes Private Placement of 7.25% Series E Convertible Preferred Shares

"Simpson Thacher represented Carlyle Credit Income Fund in a $17.5 million private placement of 7.25% Series E Convertible Preferred Shares due 2030 (liquidation preference $1,000 per share) to certain institutional investors. The Fund used net proceeds to redeem its outstanding 8.75% Series A Preferred Shares due 2028."

Simpson Thacher represented Carlyle Credit Income Fund, an externally managed closed-end fund listed on the New York Stock Exchange focused on investing in primarily equity and junior debt tranches of collateralized loan obligations (CLOs), in the transaction. The Fund completed a private placement of 7.25% Series E Convertible Preferred Shares due 2030, with a liquidation preference of $1,000.00 per share, sold to certain institutional investors in an aggregate offering amount of $17.5 million. The Fund used the net proceeds from the sale of the Series E convertible preferred shares to redeem its existing 8.75% Series A Preferred Shares due 2028. Simpson Thacher represented Carlyle Credit Income Fund with a team composed by: Rajib Chanda, Steven Grigoriou, Jonathan Pacheco, Kaitlyn Bello, Sherry Liu and Adriana Hong (Registered Funds); and Jonathan Cantor and Michael Slomovics (Tax).

Carlyle Credit Income Fund Completes Private Placement of 7.25% Series E Convertible Preferred Shares

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