Carlyle Credit Income Fund (CCIF) Declares August 2023 Dividend and Announces July 31, 2023 Net Asset Value
NEW YORK, Aug. 10, 2023 /PRNewswire/ -- Carlyle Credit Income Fund (the "Fund") (NYSE: CCIF) today is pleased to announce the declaration of a monthly dividend on shares of the Fund's common stock of $0.0551 per share, payable on August 31, 2023, to shareholders of record as of August 21, 2023. The monthly dividend remains in line with the July 2023 dividend of $0.0551 per share, which represented an annualized yield of 8.0% based on $8.27 net asset value as of the closing of the transaction and was paid to shareholders of record on July 31, 2023. The monthly dividend represents an annualized yield of 8.1% based on the midpoint of Management's unaudited estimate of the range of net asset value per share between $8.16 and $8.26 as of July 31, 2023.
CCIF successfully deployed 76.7% of the initial cash proceeds received from the portfolio sale announced on July 11, 2023, into a diverse pool of equity tranches of collateralized loan obligations (CLOs). The weighted average effective yield of our CLO equity investments at cost as of August 10th, 2023, is 18.7%. Carlyle leveraged its expertise and long-standing relationships within the CLO industry to deploy this capital on behalf of CCIF shareholders.
Dividends on common stock are generally paid from net investment income (regular interest and dividends) and may also include capital gains and/or a return of capital. The specific tax characteristics of the dividends will be reported to the Company's shareholders on Form 1099 after the end of the 2023 calendar year.
Shares of closed-end funds often trade at a discount from their net asset value. The market price of Fund shares may vary from net asset value based on factors affecting the supply and demand for shares, such as Fund dividend rates relative to similar investments, investors' expectations for future dividend changes, the clarity of the Fund's investment strategy and future return expectations, and investors' confidence in the underlying markets in which the Fund invests. Fund shares are subject to investment risk, including possible loss of principal invested. No fund is a complete investment program and you may lose money investing in the Fund. An investment in the Fund may not be appropriate for all investors. Before investing, prospective investors should consider carefully the Fund's investment objective, risks, charges and expenses. For further details, please visit Carlyle Credit Income Fund's website at www.carlylecreditincomefund.com.
This release may contain forward-looking statements relating to the business and financial outlook of Carlyle Credit Income Fund that are based on the Fund's current expectations, estimates, forecasts and projections and are not guarantees of future performance. There is no assurance that CCIF will achieve its investment objective. Actual results may differ materially from those in the forward-looking statements, and you should not place undue reliance on any such statements. A number of important factors could cause actual results to differ materially from the forward-looking statements contained in this release.
About Carlyle Credit Income Fund
Carlyle Credit Income Fund (NYSE: CCIF) is an externally managed closed-end fund focused on investing in primarily equity and junior debt tranches of collateralized loan obligations ("CLOs"). The CLOs are collateralized by a portfolio consisting primarily of U.S. senior secured loans with a large number of distinct underlying borrowers across various industry sectors. With Carlyle (NYSE: CG) as its investment adviser, CCIF draws upon the significant scale and resources of Carlyle as one of the world's largest CLO managers. For more information visit www.carlylecreditincomefund.com.
About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $385 billion of assets under management as of June 30, 2023, Carlyle's purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,200 people in 29 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.
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