Neuberger Berman MLP And Energy Income Fund Announces Amendment To Leverage Facility

Rhea-AI Summary

Neuberger Berman MLP and Energy Income Fund (NYSE American: NML) has amended its revolving credit facility, increasing its available debt financing from $75 million to $100 million. This adjustment aims to align the available financing with the Fund's current asset level, potentially providing better support for its investment strategy. The Fund manages $437 billion in client assets and has a strong reputation in the investment management sector, recognized for excellent ESG practices.

Positive

• Increased credit facility from $75 million to $100 million enhances financial flexibility.
• Fund manages $437 billion in client assets, indicating strong market position.

Negative

• Potential risks include a decline in securities markets affecting Fund performance.
• General economic downturn could negatively impact fund operations.

NEW YORK, Nov. 19, 2021 /PRNewswire/ -- Neuberger Berman MLP and Energy Income Fund Inc. (NYSE American: NML) (the "Fund") announced today that it has amended its revolving credit facility (the "Facility") to increase the amount of available debt financing in order to bring it more in line with the Fund's current asset level. Under the amended terms of the Facility, the lender's total commitment increased from $75 million to $100 million.

About Neuberger Berman

Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies—including equity, fixed income, quantitative and multi-asset class, private equity, real estate and hedge funds—on behalf of institutions, advisors and individual investors globally. With offices in 25 countries, Neuberger Berman's diverse team has over 2,400 professionals. For seven consecutive years, the company has been named first or second in Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 employees or more). In 2020, the PRI named Neuberger Berman a Leader, a designation awarded to fewer than 1% of investment firms for excellence in Environmental, Social and Governance (ESG) practices. The PRI also awarded Neuberger Berman an A+ in every eligible category for our approach to ESG integration across asset classes. The firm manages $437 billion in client assets as of September 30, 2021. For more information, please visit our website at www.nb.com.

Statements made in this release that look forward in time involve risks and uncertainties. Such risks and uncertainties include, without limitation, the adverse effect from a decline in the securities markets or a decline in the Fund's performance, a general downturn in the economy, competition from other closed end investment companies, changes in government policy or regulation, inability of the Fund's investment adviser to attract or retain key employees, inability of the Fund to implement its investment strategy, inability of the Fund to manage rapid expansion and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations.

Contact:
Neuberger Berman Investment Advisers LLC 
Investor Information
(877) 461-1899

 

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SOURCE Neuberger Berman

FAQ

What was announced by Neuberger Berman MLP and Energy Income Fund on November 19, 2021?

The Fund announced an amendment to its revolving credit facility, increasing available debt financing from $75 million to $100 million.

How much client assets does Neuberger Berman MLP and Energy Income Fund manage?

As of September 30, 2021, the Fund manages $437 billion in client assets.

What are the risks mentioned in the Neuberger Berman MLP and Energy Income Fund press release?

Risks include declines in securities markets, economic downturns, and competition from other investment companies.

What is the significance of the increased credit facility for NML?

The increased credit facility enhances financial flexibility for the Fund, aligning financing with current asset levels.