Babson Capital Global Short Duration High Yield Fund

Babson Capital Global Short Duration High Yield Fund (the “Fund”) (NYSE: BGH) announced a special dividend of $0.3105 per share payable on January 2, 2014. The Fund anticipates that this distribution will be paid from short-term and long-term capital gains. This distribution is in addition to the Fund’s regular dividend of $0.1677 per share, which is payable on January 2, 2014.

The following dates apply to the distribution declared today:
Ex-Date   Record Date   Payable Date   Amount
December 26, 2013 December 30, 2013 January 2, 2014 $0.3105

This distribution is payable in 2014, but will be treated as having been paid by the Fund and received by shareholders as of December 31, 2013.

The amounts and sources of distributions reported are only estimates and are not provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send to investors, a Form 1099-DIV for the calendar year that will define how to report these distributions for federal income tax purposes.

The Fund is a non-diversified, closed-end management investment company that is managed by Babson Capital Management LLC. The Fund invests primarily in short-duration, global high yield bonds with the objective of seeking as high a level of current income as Babson Capital determines is consistent with capital preservation, with a secondary objective of capital appreciation. The Fund expects to maintain a weighted average portfolio duration, including the effects of leverage, of 3 years or less.

Cautionary Notice: Certain statements contained in this press release may be "forward looking" statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date in which they are made and which reflect management’s current estimates, projections, expectations or beliefs, and which are subject to risks and uncertainties that may cause actual results to differ materially. These statements are subject to change at any time based upon economic, market or other conditions and may not be relied upon as investment advice or an indication of the fund's trading intent. References to specific securities are not recommendations of such securities, and may not be representative of the fund's current or future investments. We undertake no obligation to publicly update forward looking statements, whether as a result of new information, future events, or otherwise.

Because the Fund is newly organized, its shares have a limited history of public trading. Investors should read the Fund’s prospectus and consider carefully the risks, investment objectives, charges and expenses associated with an investment in the Fund’s common shares. For a copy of the prospectus, please contact your securities representative.

About Babson Capital

Babson Capital Management and its subsidiaries serve institutional investors around the globe and have over $188 billion in assets under management as of September 30, 2013. Through proprietary research, analysis and a focus on investment fundamentals, the firm develops products and strategies that leverage its broad expertise in global fixed income, equities, alternatives, structured products, debt financing for corporations and debt and equity financing for commercial real estate. Based in Boston and Springfield, Mass., and Charlotte, N.C., the firm maintains a strong global footprint with offices in New York, Hartford, Chicago, Los Angeles, London, Hong Kong, Tokyo, Sydney and Melbourne. The firm’s subsidiaries include Babson Capital Finance, Cornerstone Real Estate Advisers and Wood Creek Capital Management. Babson Capital is a member of the MassMutual Financial Group.

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