Executive leadership at abrdn Income Credit Strategies Fund.
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Recent press releases and 8-K filings for ACP.
abrdn Income Credit Strategies Fund Issues New Series A Preferred Shares
ACP
- abrdn Income Credit Strategies Fund has authorized the creation, issuance, and sale of 4,000,000 Series A Mandatorily Redeemable Preferred Shares.
- Each of these Series A Preferred Shares has a liquidation preference of $25.00 and will be sold at $25.00 per share.
- The shares will have a dividend rate of 5.525% per annum, with the initial dividend period ending December 31, 2025.
- The new Series A Mandatorily Redeemable Preferred Shares rank on parity with any other series of Preferred Shares regarding dividends and liquidation preference, and prior to any Common Shares.
Dec 18, 2025, 11:23 PM
ACP Announces Issuance of Series A Mandatorily Redeemable Preferred Shares
ACP
Debt Issuance
New Projects/Investments
- abrdn Income Credit Strategies Fund (ACP) has closed a $100 million private offering of Series A Mandatorily Redeemable Preferred Shares due December 18, 2030.
- The newly issued shares are rated A2 by Moody's Investors Service, Inc..
- Net proceeds from the offering will be used primarily to refinance the Fund's existing debt and to make new portfolio investments.
- The Fund's current leverage also includes a $300 million 364-day Syndicated Revolving Credit Facility (currently drawn at $180 million) and $40 million in 5.25% Series A Perpetual Preferred Shares.
Dec 18, 2025, 9:15 PM
abrdn Income Credit Strategies Fund Updates Investment Strategy
ACP
New Projects/Investments
- The abrdn Income Credit Strategies Fund is a diversified, closed-end management investment company with a primary objective of seeking a high level of current income and a secondary objective of capital appreciation. The Fund primarily invests in loan and debt instruments, including senior secured floating rate and fixed rate loans, and second lien or other subordinated loans or debt instruments, aiming to invest at least 80% of its "Managed Assets" in these credit obligations and related instruments.
- Effective November 10, 2025, the Fund's non-fundamental investment strategy will change to allow it to invest up to 5% of its portfolio in credit obligations or related instruments that, at the time of investment, are in default. Previously, the Fund would not invest in defaulted credit obligations.
- The Fund is permitted to obtain and use leverage opportunistically through various instruments, subject to 1940 Act limitations, such as indebtedness not exceeding 33 1/3% of total net assets and preferred shares plus senior securities representing indebtedness not exceeding 50% of total assets. Additionally, the Fund uses derivative instruments, primarily forward contracts, to hedge foreign currency risk.
Sep 11, 2025, 8:15 PM
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