Neuberger Berman Real Estate Securities Income Fund Inc. Announces Plan to Redeem its Auction Market Preferred Shares
by Business Wire
Neuberger Berman Real Estate Securities Income Fund Inc. (NYSE AMEX: NRO) (the “Fund”) has announced an intended schedule for redemption of its outstanding auction market preferred shares (“AMPS”). The Fund currently has 57 AMPS outstanding and will redeem all of these shares at a price equal to the per share liquidation preference of $25,000 plus any accumulated and unpaid dividends.
Subject to the satisfaction of certain requirements, including notice, that apply to AMPS redemptions, NRO expects to redeem its AMPS in accordance with the schedule below:
Amount To Be
|Series A||64190A202||2||$50,000||June 8, 2012|
|Series B||64190A608||7||$175,000||June 11, 2012|
|Series C||64190A301||4||$100,000||June 12, 2012|
|Series D||64190A707||10||$250,000||June 12, 2012|
|Series E||64190A806||5||$125,000||June 6, 2012|
|Series F||64190A889||15||$375,000||June 7, 2012|
|Series G||64190A400||4||$100,000||June 18, 2012|
|Series H||64190A509||10||$250,000||June 6, 2012|
About Neuberger Berman
Neuberger Berman Group LLC is one of the world’s leading independent, employee-controlled asset management companies. As of March 31, 2012, assets under management were approximately $199 billion. Established in 1939, Neuberger Berman provides a broad range of global investment solutions – equity, fixed income, and alternatives – to institutions and individuals through customized separately managed accounts, mutual funds and alternative investment products. For more information please visit our website at www.nb.com.
Certain statements in this press release, such as those related to the redemption of AMPS, the methodology for and timing of such redemption, and the use of leverage 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 Fund, 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. Among other risks and uncertainties are the ability of the Fund to redeem AMPS, the ability to successfully use leverage and the possibility that costs associated with the leverage are higher than expected. As a result, no assurance can be given as to future results, levels of activity, performance or achievements, and neither the Fund nor any other person assumes responsibility for the accuracy and completeness of such statements in the future.