Carlyle Credit Income Fund Completes Private Placement of Convertible Preferred Shares
Simpson Thacher represented Carlyle Credit Income Fund, an externally managed closed-end fund focused on investing in primarily equity and junior debt tranches of CLOs listed on the New York Stock Exchange, in connection with the private placement of 7.25% Series E Convertible Preferred Shares due 2030, liquidation preference $1,000.00 per share, to certain institutional investors in an aggregate offering amount of $17.5 million. The Fund used the net proceeds from the sale of the convertible preferred shares to redeem its existing 8.75% Series A Preferred Shares due 2028.
The Simpson Thacher team included Rajib Chanda, Steven Grigoriou, Jonathan Pacheco, Kaitlyn Bello, Sherry Liu and Adriana Hong (Registered Funds); and Jonathan Cantor and Michael Slomovics (Tax).