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May 8, 2012 /PRNewswire/ -- Aberdeen Asia-Pacific Income Fund, Inc. (NYSE AMEX: FAX) (the "Fund"), a
$2.6 billion closed-end fixed income fund, on
April 11, 2012, announced that it has renewed its
$600 million credit facility with a syndicate of major financial institutions led by Scotiabank Global Banking and Markets, the wholesale banking arm of the Scotiabank Group. The renewal marks the continuation of the Fund's leverage capabilities.
"We are very pleased to have successfully collaborated once again with Scotiabank and the other major financial institutions to renew the facility," said
Christian Pittard, President of the Fund.
John Morale, Managing Director and Global Industry Head of Financial Services for Scotiabank's Global Banking and Markets division added: "This continues to be a landmark transaction. The
US$600 million financing remains one of the largest syndicated financings for a 1940 Act regulated closed-end mutual fund ever completed and reaffirms Scotiabank's preeminent position as one of the leaders in the Financial Services industry."
Leader in Emerging Market Closed-End Funds Aberdeen directly manages eleven U.S. exchange-listed closed-end funds and one Canadian investment company:
About Aberdeen Asset Management Aberdeen Asset Management PLC, the parent company of Aberdeen Asset Management Inc., is an independently- run asset manager listed on the London Stock Exchange since 1991, and operating from 31 offices in 23 countries (the "Aberdeen Group"). The Aberdeen Group invests on behalf of institutional and wholesale clients, primarily in equities, fixed income, alternative investment strategies and property. The Aberdeen Group manages more than
US$270.3 billion of assets for both institutions and private individuals as of
December 31, 2011.
For more information, please visit
www.aberdeen-asset.us/cefAbout Scotiabank:Scotiabank is a Canadian-based premier global financial institution, founded in 1832, with over 75,000 employees, servicing approximately 19 million customers in over 55 countries around the world. Scotiabank offers a diverse range of products and services including personal, commercial, corporate and investment banking. With more than
$579 billion in assets (as at
October 31, 2011), Scotiabank trades on the
Toronto (BNS) and New York Exchanges (BNS). For more information please visit
About Global Banking and Markets:Scotiabank's Global Banking and Markets division provides corporate and investment banking and capital markets products and services to corporate, institutional and government clients around the globe. With offices throughout the Americas,
Asia Pacific, Global Bank and Markets offer an efficient wholesale banking platform and expansive network of professionals. It has 30 offices and more than 300 relationship managers organized around industry specialties. For more information, please visit
Investors should consider a fund's investment objectives, risks, charges and expenses carefully before investing. A copy of the prospectus for Aberdeen Chile Fund, Inc. and Aberdeen Global Income Fund, Inc. that contains this and other information about the fund may be obtained by calling 866-839-5205. Please read the prospectus carefully before investing. Investing in funds involves risk, including possible loss of principal.
Closed-end funds have a one-time initial public offering and then are subsequently traded on the secondary market through one of the stock exchanges. The investment return and principal value 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 (NAV) of the fund's portfolio. There is no assurance that a fund will achieve its investment objective. Past performance does not guarantee future results.