ATLANTA, Nov. 1, 2021 /PRNewswire/ -- Invesco
Advisers, Inc., a subsidiary of Invesco Ltd. (NYSE: IVZ), announced
today the completion of the reorganization (the "Reorganization")
of Invesco Dynamic Credit Opportunities Fund (NYSE: VTA) (the
"Fund") into a newly created closed-end interval fund, Invesco
Dynamic Credit Opportunity Fund (the "Interval Fund").
As previously announced, at the Annual Meeting of Shareholders
of the Fund held on September 3,
2021, Fund shareholders approved the Reorganization.
The Interval Fund offers four classes of shares (Class A, Class AX,
Class R6 and Class Y) and provides liquidity to shareholders in the
form of quarterly repurchase offers. The Interval Fund expects its
initial repurchase offer to commence in the first quarter of 2022.
The Interval Fund will be managed with the same investment
objective and similar investment strategy as the Fund, all as
described in the proxy statement/prospectus, which has been filed
publicly. Shareholders should read the proxy/statement prospectus
as it contains important information about the Reorganization and
the Interval Fund.
Effective today, common shareholders that were remaining in the
Fund as of the market close on Thursday,
October 28, 2021 are shareholders of the Interval Fund and
will receive newly issued Class AX shares of the Interval Fund
priced daily at the Interval Fund's net asset value ("NAV"). In the
Reorganization, common shareholders of the Fund received an amount
of Interval Fund Class AX shares equal to the aggregate NAV of
their holdings of the Fund's common shares as determined as of the
close of business on October 29,
2021.
Relevant details pertaining to the Reorganization are as
follows:
|
Fund
|
Ticker
|
NAV/Share
($)
|
Share
Conversion
Ratio
|
|
Invesco Dynamic
Credit Opportunity Fund
|
XAXCX
|
$12.46
|
N/A
|
|
Invesco Dynamic
Credit Opportunities
Fund
|
VTA
|
$12.46
|
1:1
|
_____________________________________
For more information, call 1-800-341-2929.
This communication is not intended to, and shall not,
constitute an offer to purchase or sell shares of any of the
Invesco Funds, including the Fund.
Where to find additional information
In connection
with the Reorganization, a definitive proxy statement/prospectus
was filed with the SEC. All shareholders are advised to read the
definitive proxy statement/ prospectus in its entirety because it
contains important information regarding the Fund, the Interval
Fund, the Reorganization, the Board's considerations in
recommending the Reorganization, and related matters. Shareholders
may obtain a free copy of the definitive proxy statement/prospectus
and other documents filed by the Fund or the Interval Fund with the
SEC, including the Fund's most recent annual report to
shareholders, on the SEC's website at http://www.sec.gov, and
copies of this information may be obtained, after paying a
duplicating fee, by electronic request at the following e-mail
address: publicinfo@sec.gov. Copies of all of these documents may
be obtained upon request without charge by visiting the Invesco
website at invesco.com/us, Invesco 1555 Peachtree Street, N.E.
Atlanta, GA 30309 www.invesco.com
or by writing to the Fund, at 1555 Peachtree Street, N.E.,
Atlanta, GA 30309, or calling 1-
800-341-2929.
About Invesco Ltd.
Invesco Ltd. is a global
independent investment management firm dedicated to delivering an
investment experience that helps people get more out of life. Our
distinctive investment teams deliver a comprehensive range of
active, passive and alternative investment capabilities. With
offices in more than 20 countries, Invesco managed $1.5 trillion in assets on behalf of clients
worldwide as of September 30, 2021.
For more information, visit www.invesco.com.
Invesco Distributors, Inc. is the U.S. distributor for Invesco
Ltd.'s retail products. Invesco Advisers, Inc. is an investment
adviser; it provides investment advisory services to individual and
institutional clients and does not sell securities. Each entity is
a wholly owned, indirect subsidiary of Invesco Ltd.
Note: There is no assurance that a closed-end fund
will achieve its investment objective. Common shares are bought on
the secondary market and may trade at a discount or premium to NAV.
Regular brokerage commissions apply.
NOT A DEPOSIT l NOT FDIC INSURED l NOT
GUARANTEED BY THE BANK | MAY LOSE VALUE |
NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Contact: Jeaneen Terrio
Jeaneen.Terrio@invesco.com 212-278-9205
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SOURCE Invesco Ltd.