First Trust Strategic High Income Fund II Announces Commencement of Tender Offer
29 Agosto 2017 - 8:00AM
Business Wire
First Trust Strategic High Income Fund II (NYSE: FHY) (the
“Fund”) today commenced a tender offer.
As previously announced, the Fund will purchase up to 15% of its
outstanding common shares for cash at a price per share equal to
98% of the net asset value per share as determined as of the close
of the regular trading session of the NYSE on September 29, 2017,
or if the offer is extended, as determined by of the close of the
regular trading session of the NYSE on the next trading day after
the day to which the offer is extended (in each case, the
“Valuation Date”). The tender offer will expire on September 28,
2017 at 5:00 p.m. Eastern time, or on such later date to which the
offer is extended.
Additional terms and conditions of the tender offer are set
forth in the Fund’s tender offer materials, which will be
distributed to shareholders. If the amount of the Fund’s
outstanding common shares that is tendered exceeds the maximum
amount of its offer, the Fund will purchase shares from tendering
shareholders on a pro rata basis. Accordingly, there is no
assurance that the Fund will purchase all of a shareholder’s
tendered shares.
Completion of the tender offer is subject to the satisfaction of
certain customary conditions, as described in the tender offer
materials, and there can be no assurance such conditions will be
satisfied. In addition, under certain circumstances, the Fund may
terminate or abandon the tender offer, as described in the tender
offer materials, and there can be no assurance such circumstances
will not arise.
The Fund is a diversified, closed-end management investment
company that seeks to provide a high level of current income. As a
secondary objective, the Fund seeks to provide capital growth.
First Trust Advisors L.P., the Fund's investment advisor, along
with its affiliate, First Trust Portfolios L.P., are privately-held
companies which provide a variety of investment services, including
asset management and financial advisory services, with collective
assets under management or supervision of approximately $107
billion as of July 31, 2017 through unit investment trusts,
exchange-traded funds, closed-end funds, mutual funds and separate
managed accounts.
Brookfield Investment Management, Inc. (“Brookfield”) serves as
the Fund's investment sub-advisor. Brookfield is a wholly-owned
subsidiary of Brookfield Asset Management, a global alternative
asset manager with over $250 billion in assets under management as
of June 30, 2017. Brookfield Asset Management has over a 100-year
history of owning and operating assets with a focus on property,
renewable power, infrastructure and private equity. Brookfield
Asset Management’s public market activities are conducted by
Brookfield, a registered investment advisor, with over $15.4
billion of assets under management as of June 30, 2017.
TENDER OFFER STATEMENT
This press release does not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer or
solicitation or sale would be unlawful prior to registration or
qualification under the laws of such state or jurisdiction. The
tender offer will be made only by an offer to purchase, a related
letter of transmittal and other documents, which have been filed
with the Securities and Exchange Commission as exhibits to a tender
offer statement on Schedule TO. Common shareholders of the Fund
should read the offer to purchase and tender offer statement on
Schedule TO and related exhibits as they contain important
information about the tender offer. The offer to purchase and
related letter of transmittal are available free of charge at
http://www.sec.gov and from the Fund by calling Georgeson LLC, the
Fund’s information agent for the tender offer, at: (800)
509-0984.
FORWARD-LOOKING STATEMENTS
Certain statements made in this press release are
forward-looking statements. Actual results or occurrences may
differ significantly from those anticipated in any forward-looking
statements due to numerous factors. Completion of the tender offer
is subject to satisfaction of conditions, and there can be no
assurance such conditions will be satisfied. Also, there are
circumstances under which the tender offer may be
terminated/abandoned, and there can be no assurance such
circumstances do not arise.
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First Trust Strategic High Income Fund IIJeff Margolin – (630)
765-7643
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