THL Credit Senior Loan Fund Announces Shareholder Approval for THL Credit Advisors LLC to Serve as Sole Investment Adviser
August 06 2018 - 7:00AM
THL Credit Senior Loan Fund (NYSE: TSLF) (the “Fund”), a
non-diversified, closed-end management investment company, today
announced that Fund shareholders have approved a new advisory
agreement (the “New Advisory Agreement”) with THL Credit Advisors
LLC (“THL Credit”), the re-election of Joseph L. Morea and Michael
Perino, as Class I Trustees, and the election of Brian W. Good, as
a new Class III Trustee at the Annual Meeting of Shareholders of
the Fund held on August 3, 2018. THL Credit had previously assumed
the role and responsibilities of sole investment adviser to the
Fund on June 22, 2018, under an interim advisory agreement (the
“Interim Advisory Agreement”) approved by the Board of Trustees on
May 24, 2018.
The annual fee rate payable by the Fund for
advisory services was reduced from 1.05% to 0.80% of the value of
the Fund’s average daily Managed Assets on June 22, 2018, under the
Interim Advisory Agreement and continues to be 0.80% under the New
Advisory Agreement. In addition, as previously announced, THL
Credit agreed to limit, indefinitely, certain non-management
expenses borne by the Fund in an amount not to exceed 0.25% per
year of the Fund’s Managed Assets (pro-rated for the period in 2018
during which THL Credit serves as the Fund’s sole investment
adviser). THL Credit also agreed to bear up to $500,000 of certain
expenses in connection with the transition of the advisory
relationship.
THL Credit Senior Loan Fund
The Fund is a non-diversified, closed-end
management investment company that is advised by THL Credit
Advisors LLC. The Fund’s investment objective is to provide current
income and preservation of capital primarily through investments in
U.S. dollar denominated senior secured corporate loans and notes
(“Bank Loans”). There can be no assurance that the Fund will
achieve its investment objective.
“Managed Assets” of the Fund means the total
assets of the Fund (including any assets attributable to borrowings
for investment purposes) minus the sum of the Fund’s accrued
liabilities (other than liabilities representing borrowings for
investment purposes). Borrowings for investment purposes include
any form or combination of financial leverage instruments, such as
borrowings from banks or other financial institutions (i.e., a
credit facility), margin facilities, the issuance of preferred
shares or notes and leverage attributable to reverse repurchase
agreements, dollar rolls or similar transactions
About THL Credit
THL Credit is an alternative credit investment
manager for both broadly syndicated investments and direct lending
through public and private vehicles, collateralized loan
obligations, separately managed accounts and co-mingled funds. THL
Credit maintains a variety of advisory and sub-advisory
relationships across its investment platforms, including THL
Credit, Inc. (Nasdaq: TCRD), a publicly traded business development
company, and THL Credit Senior Loan Fund (NYSE: TSLF), a
non-diversified, closed-end management investment company.
Forward-Looking Statements
Statements included herein may constitute
“forward-looking statements”, which relate to future events or our
future performance or financial condition. These statements are not
guarantees of future performance, condition or results and involve
a number of risks and uncertainties. Actual results may differ
materially from those in the forward-looking statements as a result
of a number of factors, including those described from time to time
in our filings with the Securities and Exchange Commission (“SEC”).
THL Credit Senior Loan Fund undertakes no duty to update any
forward-looking statements made herein.
Contact the Fund at 1.844.409.6354 or
visit the Fund’s website at
http://thlcredittslf.com for additional
information.
Contact:Andrew ParkTHL Credit
Advisors212.829.3126
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