Thornburg Income Builder Opportunities Trust Announces Exercise of Over-Allotment Option and Initial Investor Call

Rhea-AI Summary

Thornburg Income Builder Opportunities Trust (TBLD) announced the issuance of 1,825,633 common shares at $20 each, raising gross proceeds of $36,512,660. Combined with prior issuances, the total capital raised is $641.6 million from 32,081,883 shares. A monthly distribution of $0.10417 per share was made on September 20, 2021, yielding an annualized rate of about 6.25%. The Trust aims to deliver high current income through diverse, income-producing investments globally. An investor call is scheduled to discuss the investment strategy for the raised proceeds.

Positive

• Successful issuance of 1,825,633 shares at $20 each, raising $36.5 million.
• Total gross proceeds of $641.6 million from all issuances.
• Monthly distribution of $0.10417 per share, equating to an annualized yield of approx. 6.25%.
• Trust's strategy focuses on diversified global income-producing securities.

Negative

• None.

SANTA FE, N.M., Sept. 23, 2021 /PRNewswire/ -- Thornburg Income Builder Opportunities Trust (the "Trust") (NASDAQ: TBLD) today announced the Trust has issued an additional 1,825,633 common shares at a price of $20 per share for gross proceeds of $36,512,660, pursuant to the agents' exercise of the over-allotment option. In total, the Trust has issued 32,081,883 common shares yielding gross proceeds of $641.6 million.

In addition, on Thursday, September 23, Ben Kirby, CFA, co-head of investments and portfolio manager, will discuss by conference call investing the Trust's proceeds over the last month.

On August 25, the Trust announced its initial monthly distribution of $0.10417 per share on the Trust's common shares, paid on September 20, 2021 to common shareholders of record as of September 13, 2021. Based on the Trust's initial public offering price of $20.00 per share, the distribution represents an annualized distribution rate of approximately 6.25%.

The Trust seeks to provide high current income and additional total return by investing in a broad range of income-producing securities. Using an active global allocation and a rigorous bottom-up fundamental investment process, the Trust invests in both equity and opportunistic fixed income located in the United States and around the globe, including emerging markets.

The lead managers of the underwriting syndicate were UBS Investment Bank, Wells Fargo Securities, RBC Capital Markets, Stifel and Oppenheimer & Co.

About Thornburg

Founded in 1982, Thornburg Investment Management is a privately owned global investment firm that offers a range of multi-strategy solutions for institutions and financial advisors. A recognized leader in fixed income, equity and alternatives investing, the firm oversees $49 billion¹ as of August 31, 2021 across mutual funds, closed-end funds, institutional accounts, separate accounts for high-net-worth investors and UCITS funds for non-U.S. investors. Thornburg is headquartered in Santa Fe, New Mexico, with additional offices in London, Hong Kong and Shanghai.

At Thornburg, we believe unconstrained investing leads to better outcomes for our clients. Our culture is collaborative, and our investment solutions are highly active, high conviction and benchmark agnostic. When it comes to finding value for our clients, it's more than what we do, it's how we do it: how we think, how we invest and how we're structured.

For more information, visit www.thornburg.com or call (877) 215-1330.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any offer, solicitation or sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction. A registration statement relating to these securities has been filed with and declared effective by the U.S. Securities and Exchange Commission.

Before investing, carefully consider the Trust's investment goals, risks, charges, and expenses. For a prospectus or summary prospectus containing this and other information, contact your financial advisor, visit www.thornburg.com/tbld, or call 877-215-1330. Read them carefully before investing.

Certain statements in this press release constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the Trust, or industry results, to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. As a result, no assurance can be given as to future results, levels of activity, performance or achievements, and neither the Trust nor any other person assumes responsibility for the accuracy and completeness of such statements in the future.

Risk is inherent in all investing. There can be no assurance that the Trust will achieve its investment objective, and you could lose some or all of your investment.

NOT FDIC INSURED      NO BANK GUARANTEE      MAY LOSE VALUE

Thornburg Securities Corporation, Distributor

Media Inquiries 
Michael Corrao
Director of Global Communications
Thornburg Investment Management
Tel: +1 (505) 467-5345
Email: mcorrao@thornburg.com

1 Includes $46.9 billion in assets under management and $1.9 billion in assets under advisement as of August 31, 2021.

 

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SOURCE Thornburg Investment Management

FAQ

What was the share issuance amount for Thornburg Income Builder Opportunities Trust (TBLD) announced in September 2021?

Thornburg Income Builder Opportunities Trust (TBLD) announced the issuance of 1,825,633 common shares at $20 each, raising $36,512,660.

What total gross proceeds has Thornburg Income Builder Opportunities Trust (TBLD) raised?

The total gross proceeds raised by Thornburg Income Builder Opportunities Trust (TBLD) amount to $641.6 million from 32,081,883 shares.

What is the monthly distribution rate for Thornburg Income Builder Opportunities Trust (TBLD)?

The monthly distribution rate for Thornburg Income Builder Opportunities Trust (TBLD) is $0.10417 per share, resulting in an annualized distribution rate of approximately 6.25%.

What is the focus of Thornburg Income Builder Opportunities Trust's (TBLD) investment strategy?

Thornburg Income Builder Opportunities Trust (TBLD) focuses on providing high current income through a diverse range of income-producing securities globally.