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BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc. Announces Details of Liquidation

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BNY Alcentra Global Credit Income 2024 Target Term Fund (NYSE: DCF) has announced details of its upcoming liquidation, scheduled for November 25, 2024. The Fund's trading on NYSE will continue through November 20, 2024, and suspend before market open on November 21, 2024. While the Fund's original objective was to return $9.835 per share (the original NAV) to shareholders upon termination, management indicates this target will likely not be met under current market conditions. The Fund will deviate from its stated investment strategy as it prepares for liquidation. BNY Investments, managing $2.1 trillion in assets, oversees the Fund through BNY Investment Adviser.

Il BNY Alcentra Global Credit Income 2024 Target Term Fund (NYSE: DCF) ha annunciato i dettagli della sua prossima liquidazione, programmata per il 25 novembre 2024. Le contrattazioni del Fondo su NYSE continueranno fino al 20 novembre 2024 e sospenderanno prima dell'apertura del mercato il 21 novembre 2024. Sebbene l'obiettivo originale del Fondo fosse quello di restituire $9.835 per azione (il NAV originale) agli azionisti al momento della cessazione, la direzione indica che questo obiettivo probabilmente non sarà raggiunto nelle attuali condizioni di mercato. Il Fondo si discosterà dalla sua strategia di investimento dichiarata mentre si prepara alla liquidazione. BNY Investments, che gestisce $2,1 trilioni di attivi, supervisiona il Fondo tramite BNY Investment Adviser.

El BNY Alcentra Global Credit Income 2024 Target Term Fund (NYSE: DCF) ha anunciado los detalles de su próxima liquidación, programada para el 25 de noviembre de 2024. La negociación del Fondo en NYSE continuará hasta el 20 de noviembre de 2024 y se suspenderá antes de la apertura del mercado el 21 de noviembre de 2024. Si bien el objetivo original del Fondo era devolver $9.835 por acción (el NAV original) a los accionistas al momento de la terminación, la dirección indica que es probable que este objetivo no se cumpla en las condiciones actuales del mercado. El Fondo se apartará de su estrategia de inversión declarada mientras se prepara para la liquidación. BNY Investments, que gestiona $2.1 billones en activos, supervisa el Fondo a través de BNY Investment Adviser.

BNY 알센트라 글로벌 크레딧 인컴 2024 목표 기한 펀드(NYSE: DCF)가 2024년 11월 25일 예정된 청산의 세부 사항을 발표했습니다. 펀드의 NYSE 거래는 2024년 11월 20일까지 계속되며, 2024년 11월 21일 시장 개장 전에 중단됩니다. 펀드의 원래 목표는 주당 $9.835 (원래 NAV)를 주주에게 환급하는 것이었지만, 경영진은 현재 시장 상황에서 이 목표가 달성되지 않을 것이라고 지적합니다. 펀드는 청산 준비를 위해 명시된 투자 전략에서 벗어날 것입니다. BNY Investments는 $2.1 조의 자산을 관리하며, BNY Investment Adviser를 통해 펀드를 감독합니다.

Le BNY Alcentra Global Credit Income 2024 Target Term Fund (NYSE: DCF) a annoncé les détails de sa prochaine liquidation, prévue pour le 25 novembre 2024. Le trading du Fonds sur NYSE se poursuivra jusqu'au 20 novembre 2024 et sera suspendu avant l'ouverture du marché le 21 novembre 2024. Bien que l'objectif initial du Fonds était de restituer 9,835 $ par action (la NAV originale) aux actionnaires lors de la cessation, la direction indique que cet objectif ne sera probablement pas atteint dans les conditions de marché actuelles. Le Fonds s'écartera de sa stratégie d'investissement déclarée alors qu'il se prépare à la liquidation. BNY Investments, qui gère 2,1 billions de dollars d'actifs, supervise le Fonds par l'intermédiaire de BNY Investment Adviser.

Der BNY Alcentra Global Credit Income 2024 Target Term Fund (NYSE: DCF) hat die Einzelheiten seiner bevorstehenden Liquidation bekannt gegeben, die für den 25. November 2024 geplant ist. Der Handel des Fonds an der NYSE wird bis zum 20. November 2024 fortgesetzt und am 21. November 2024 vor der Markteröffnung ausgesetzt. Obwohl das ursprüngliche Ziel des Fonds darin bestand, $9,835 pro Aktie (der ursprüngliche NAV) an die Aktionäre bei Beendigung zurückzugeben, weist das Management darauf hin, dass dieses Ziel unter den aktuellen Marktbedingungen wahrscheinlich nicht erreicht wird. Der Fonds wird sich von seiner angegebenen Anlagestrategie abwenden, während er sich auf die Liquidation vorbereitet. BNY Investments, das $2,1 Billionen an Vermögenswerten verwaltet, überwacht den Fonds durch BNY Investment Adviser.

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NEW YORK--(BUSINESS WIRE)-- BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc. (NYSE: DCF) (the “Fund”) announced today additional details concerning the liquidation of the Fund. In accordance with its investment objectives and organizational documents, the Fund plans to terminate and liquidate on or about November 25, 2024 (the “Termination Date”). As the Fund prepares for its liquidation on the Termination Date, the Fund will deviate from its stated investment strategy and policies. The Fund’s investment objective is to seek a high current income and to return $9.835 per share (the original net asset value (“NAV”) per Common Share before deducting offering costs of $0.02 per share) (“Original NAV”) to common shareholders on the Termination Date. As previously disclosed, based on current market conditions, management anticipates that the Fund’s objective of returning the Original NAV to common shareholders on or about the Termination Date will not be met. The objective to return the Fund’s Original NAV is not an express or implied guarantee obligation of the Fund and is dependent on a number of factors.

The Fund’s common shares will continue trading on the New York Stock Exchange through November 20, 2024 and will be suspended from trading before the open of trading on November 21, 2024. The Fund anticipates making its final liquidating distribution on or about the Termination Date. Shareholders may recognize a gain or loss for U.S. tax purposes as a result of the liquidation of the Fund. BNY Investments does not provide tax advice; shareholders should consult a professional tax advisor regarding their specific tax situation.

Important Information

BNY Mellon Investment Adviser, Inc., the investment adviser for the Fund, is part of BNY Investments. BNY Investments is one of the world’s largest asset managers, with $2.1 trillion in assets under management as of September 30, 2024. Through a client-first approach, BNY Investments brings investors specialist expertise through its seven investment firms offering solutions across every major asset class and backed by the breadth and scale of BNY. Additional information on BNY Investments is available on www.bny.com/investments. Follow us on LinkedIn for the latest company news and activity.

BNY Investments is a division of BNY, which has $52.1 trillion in assets under custody and/or administration as of September 30, 2024. Established in 1784, BNY is America's oldest bank. Today, BNY powers capital markets around the world through comprehensive solutions that help clients manage and service their financial assets throughout the investment life cycle. BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bny.com. Follow us on LinkedIn or visit our newsroom for the latest company news.

Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment returns and principal values will fluctuate so that an investor’s shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value of the fund’s portfolio. There is no assurance that the Fund will achieve its investment objective.

This release is for informational purposes only and should not be considered as investment advice or a recommendation of any particular security.

For Press Inquiries:

BNY Mellon Investment Adviser, Inc.

Jessica Greaney

jessica.greaney@bny.com

Taylor Ventrice

taylor.ventrice@bny.com

For Other Inquiries:

BNY Mellon Securities Corporation

The National Marketing Desk

240 Greenwich Street

New York, New York 10286

1-800-334-6899

Source: BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc.

FAQ

When will BNY Alcentra Global Credit Income Fund (DCF) be liquidated?

The Fund (DCF) will be liquidated on or about November 25, 2024, with its final trading day on NYSE being November 20, 2024.

Will DCF shareholders receive the original NAV of $9.835 per share at liquidation?

No, management has indicated that based on current market conditions, the Fund's objective of returning the original NAV of $9.835 per share will not be met.

When will DCF stop trading on the NYSE?

DCF will continue trading on the NYSE through November 20, 2024, and will be suspended from trading before the market opens on November 21, 2024.

What happens to DCF shareholders after the liquidation?

Shareholders will receive a final liquidating distribution on or about November 25, 2024, and may recognize a gain or loss for U.S. tax purposes as a result of the liquidation.

Bank of New York Mellon Corporation

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