By Wendy Van Sickle
Columbus, Ohio, Nov. 21 – Carlyle Credit Income Fund priced an additional $20 million, or 800,000 shares, of its 8.75% five-year series A term preferred stock (Egan-Jones: BBB+) at $24.25 on Tuesday, according to a news release and a 424B2 filed with Securities and Exchange Commission.
The preferreds have a $25.00 liquidation preference.
The company sold an original $30 million of the preferreds on Oct. 19, and the bookrunners had a 30-day over-allotment option for an additional $4.5 million, or 180,000 shares, on Oct. 24.
Beginning on Oct. 31, 2025, the company may redeem the outstanding series A preferreds at the liquidation preference plus any accumulated dividends.
Proceeds will be used for general working capital purposes.
The preferreds will trade under the symbol “CCIA” on the New York Stock Exchange.
The fund is an externally managed closed-end fund focused on investing in primarily equity and junior debt tranches of collateralized loan obligations. The fund’s investment adviser is Carlyle Global Credit Investment Management LLC. Prior to July 27, the fund was known as Vertical Capital Income Fund.
| Issuer: | Carlyle Credit Income Fund
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| Amount: | $20 million, or 800,000 shares
|
| Issue: | Series A term preferred shares add-on
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| Maturity: | Oct. 31, 2028
|
| Dividend: | 8.75%
|
| Price: | $24.25
|
| Liquidation preference: | $25.00
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| Yield: | 8.75%
|
| Call features: | Beginning on Oct. 31, 2025
|
| Trade date: | Nov. 21
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| Settlement date: | Nov. 30
|
| Rating: | Egan-Jones Ratings Co.: BBB+
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| Listing: | NYSE: CCIA
|
| Distribution: | Direct placement
|
| Cusip: | 92535C500
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| Original issue: | $30 million, or 1.2 million shares, priced on Oct. 19
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