Neuberger Berman High Yield Strategies Fund Announces Leverage Refinancing

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Neuberger Berman Investment Advisers LLC
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NEW YORK, September 19, 2023 — Neuberger Berman High Yield Strategies Fund Inc. (NYSE American: NHS) (the “Fund”) announced today that it has successfully refinanced its leverage by entering into a new revolving debt financing facility (“Revolving Credit Facility”) with a major unaffiliated financial institution. Under the terms of the Revolving Credit Facility, the Fund has access to committed debt financing of up to $110 million. As part of the leverage refinancing, the Fund also announced the approval of the issuance of up to $40 million in Mandatory Redeemable Preferred Shares, Series D (“Series D Preferred”), the issuance of which is subject to completion of documentation and customary closing conditions. The Fund used a combination of the proceeds from the Revolving Credit Facility and short-term financing pending the issuance of the Series D Preferred, without interrupting its leveraged investment program, to repay its outstanding Floating Rate Senior Notes and redeem its Mandatory Redeemable Preferred Shares, Series C.

About Neuberger Berman

Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies—including equity, fixed income, quantitative and multi-asset class, private equity, real estate and hedge funds—on behalf of institutions, advisors and individual investors globally. Neuberger Berman’s investment philosophy is founded on active management, engaged ownership and fundamental research, including industry-leading research into material environmental, social and governance factors. Neuberger Berman is a PRI Leader, a designation awarded to fewer than 1% of investment firms. With offices in 26 countries, the firm’s diverse team has over 2,750 professionals. For nine consecutive years, Neuberger Berman has been named first or second in Pensions & Investments Best Places to Work in Money Management Best Places to Work in Money Management survey among those with 1,000 employees or more). The firm manages $443 billion in client assets as of June 30, 2023. For more information, please visit our website at www.nb.com.