First Trust Strategic High Income Fund II Announces Plan for Tender Offer
17 Agosto 2017 - 3:13PM
Business Wire
First Trust Strategic High Income Fund II (NYSE: FHY) (the
“Fund”) announced today that the Fund’s Board of Trustees has
approved the commencement (subject to certain conditions) prior to
or during the week of August 28, 2017, of a cash tender offer for
up to 15% of the Fund’s outstanding common shares of beneficial
interest at a price per share equal to 98% of the Fund’s net asset
value (“NAV”) per share. The Fund will repurchase shares tendered
and accepted in the tender offer in exchange for cash.
The commencement of the tender offer is pursuant to an agreement
between the Fund and Saba Capital Management, L.P. (“Saba”) and
certain associated parties. Pursuant to the agreement, Saba has
agreed to be bound by certain standstill covenants until January
20, 2020.
The Fund has been advised that Saba will file a copy of the
agreement with the U.S. Securities and Exchange Commission (“SEC”)
as an exhibit to its Schedule 13D.
TENDER OFFER STATEMENT
The above statements are not intended to constitute an offer to
participate in the tender offer. Information about the tender
offer, including its commencement, will be announced via future
press releases. Shareholders will be notified in accordance with
the requirements of the Securities Exchange Act of 1934, as
amended, and the Investment Company Act of 1940, as amended, either
by publication or mailing or both. The tender offer will be made
only by an offer to purchase, a related letter of transmittal, and
other documents to be filed with the SEC. Shareholders of the Fund
should read the offer to purchase and tender offer statement and
related exhibits when those documents are filed and become
available, as they will contain important information about the
tender offer. These and other filed documents will be available to
investors for free both at the website of the SEC and from the
Fund.
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First Trust Strategic High Income Fund IIJeff Margolin, (630)
765-7643
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