CHARLOTTE, N.C., Aug. 11, 2015 /PRNewswire/ -- Babson Capital
Global Short Duration High Yield Fund (the "Fund") (NYSE: BGH)
announced its monthly dividend for August
2015 of $0.1615 per share,
payable on September 1, 2015.
Based on the Fund's July 31, 2015
share price of $19.12 per share, the
distribution represents an annualized yield of 10.14% per
share. Based on current projections through the payable date,
the Fund expects that this distribution will be comprised of net
investment income.
Additionally, the Fund announced estimated monthly distributions
of $0.1615 per share for September 2015 and October 2015. The
distribution schedule appears below:
Month
|
Ex-Date
|
Record
Date
|
Payable
Date
|
Amount1
|
August
|
8/19/2015
|
8/21/2015
|
9/01/2015
|
$0.1615
|
September
|
9/18/2015
|
9/22/2015
|
10/01/2015
|
$0.1615
|
October
|
10/20/2015
|
10/22/2015
|
11/02/2015
|
$0.1615
|
The Fund seeks to pay a distribution at a rate that reflects net
investment income actually earned. A portion of each distribution
may be treated as paid from sources other than net investment
income, including but not limited to short-term capital gain,
long-term capital gain or return of capital. The final
determination of the source and tax characteristics of these
distributions will depend upon the Fund's investment experience
during its fiscal year and will be made after the Fund's year end.
The Fund will send to investors a Form 1099-DIV for the calendar
year that will define how to report these distributions for federal
income tax purposes.
The Fund is a non-diversified, closed-end management investment
company that is managed by Babson Capital Management LLC. The
Fund invests primarily in short-duration, global high yield bonds
with the objective of seeking as high a level of current income as
Babson Capital determines is consistent with capital preservation,
with a secondary objective of capital appreciation. The Fund
expects to maintain a weighted average portfolio duration,
including the effects of leverage, of 3 years or less.
Cautionary Notice: Certain statements contained in this press
release may be "forward looking" statements. Investors are
cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date in which they are made
and which reflect management's current estimates, projections,
expectations or beliefs, and which are subject to risks and
uncertainties that may cause actual results to differ
materially. These statements are subject to change at any
time based upon economic, market or other conditions and may not be
relied upon as investment advice or an indication of the fund's
trading intent. References to specific securities are not
recommendations of such securities, and may not be representative
of the fund's current or future investments. We undertake no
obligation to publicly update forward looking statements,
whether as a result of new information, future events, or
otherwise.
Because the Fund is newly organized, its shares have a
limited history of public trading. Investors should read the Fund's
prospectus and consider carefully the risks, investment objectives,
charges and expenses associated with an investment in the Fund's
common shares. For a copy of the prospectus, please contact your
securities representative.
About Babson Capital Management
Babson Capital Management is a leading global asset management
firm with over $218 billion in assets
under management as of June 30, 2015.
Through proprietary research, analysis and a focus on investment
fundamentals, the firm and its global affiliates develop products
and strategies that leverage its broad expertise in global fixed
income, structured products, middle market finance, commercial real
estate, alternatives and equities. A member of the MassMutual
Financial Group, Babson maintains a strong global footprint with
operations on four continents and clients in over 20 countries.
Learn more at www.babsoncapital.com.
Contact: Brian Whelan, Babson
Capital Management, 704.805.7244, bwhelan@babsoncapital.com
15/1593
1 Amounts represent estimates for September and
October.
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SOURCE Babson Capital Management