PHILADELPHIA, 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:
- Aberdeen Asia-Pacific Income Fund, Inc. (NYSE AMEX: FAX)
- Aberdeen Asia-Pacific Income Investment Company Limited (TSX: FAP)
- Aberdeen Australia Equity Fund, Inc. (NYSE AMEX: IAF)
- Aberdeen Chile Fund, Inc. (NYSE AMEX: CH )*
- Aberdeen Emerging Markets Telecommunications and Infrastructure Fund, Inc. (NYSE AMEX: ETF )
- Aberdeen Global Income Fund, Inc. (NYSE AMEX: FCO)*
- Aberdeen Indonesia Fund, Inc. (NYSE AMEX: IF )
- Aberdeen Israel Fund, Inc. (NYSE AMEX: ISL )
- Aberdeen Latin America Equity Fund, Inc. (NYSE AMEX: LAQ)
- The Asia Tigers Fund, Inc. (NYSE: GRR)
- The India Fund, Inc. (NYSE: IFN)
- The Singapore Fund, Inc. (NYSE: SGF)
In addition, Aberdeen serves as investment sub-advisor to two other U.S. exchange-listed closed-end funds managed by First Trust:
- First Trust /Aberdeen Global Opportunity Income Fund, Inc. (NYSE: FAM)
- First Trust /Aberdeen Emerging Opportunity Fund, Inc. (NYSE: FEO)
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/cef
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 www.scotiabank.com.
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, Europe and 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 gbm.scotiabank.com.
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.
In the United States, Aberdeen Asset Management (AAM) is the marketing name for the following affiliated, registered investment advisers: Aberdeen Asset Management Inc., Aberdeen Asset Managers Ltd, Aberdeen Asset Management Ltd and Aberdeen Asset Management Asia Ltd, each of which is wholly owned by Aberdeen Asset Management PLC. "Aberdeen" is a U.S. registered service mark of Aberdeen Asset Management PLC.
The above is for information purposes only and should not be considered as an offer, or solicitation, to deal in any of the investments mentioned herein. AAMI does not warrant the accuracy, adequacy or completeness of the information and materials contained in this document and expressly disclaims liability for errors or omissions in such information and materials.
SOURCE Aberdeen Asia-Pacific Income Fund, Inc.
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