Shareholders Approve Reorganization of the High Yield Income Fund, Inc. & the High Yield Plus Fund, Inc. into Dryden High Yie...
May 15 2009 - 3:18PM
Business Wire
Shareholders have approved the proposed reorganization of two
closed-end funds�The High Yield Income Fund, Inc. (NYSE: HYI) and
The High Yield Plus Fund, Inc. (NYSE: HYP) into the open-end Dryden
High Yield Fund, Inc. (collectively, the �Funds�).
The reorganizations are expected to occur as of the close of
business on the New York Stock Exchange on Friday, June 19, 2009,
subject to the satisfaction of customary closing conditions. Upon
closing, the shares of HYI and HYP will be exchanged at net asset
value for Class A shares of equivalent value of the Dryden High
Yield Fund, Inc. The Dryden High Yield Fund, Inc. (PBHAX) is part
of the JennisonDryden mutual fund family, the proprietary fund
family of Prudential Financial Inc. (NYSE:PRU).
In anticipation of the upcoming reorganizations, the last day
for purchases and exchanges into either HYI or HYP will be at the
close of business on Monday, June 15, 2009. After that time the
shares of HYI and HYP will be halted from trading on the New York
Stock Exchange.
For further information on The High Yield Income Fund, Inc. and
The High Yield Plus Fund, Inc., call 800-451-6788.
The foregoing is not an offer to sell, nor a solicitation of an
offer to buy, shares of any fund. For more information regarding
the funds, please visit http://http://www.prudential.com and
http://www.jennisondryden.com.
Prudential Financial, Inc. (NYSE: PRU), a financial services
leader with approximately $542 billion of assets under management
as of March 31, 2009, has operations in the United States, Asia,
Europe, and Latin America. Leveraging its heritage of life
insurance and asset management expertise, Prudential is focused on
helping approximately 50 million individual and institutional
customers grow and protect their wealth. The company�s well-known
Rock symbol is an icon of strength, stability, expertise and
innovation that has stood the test of time. Prudential's businesses
offer a variety of products and services, including life insurance,
annuities, retirement-related services, mutual funds, investment
management, and real estate services. For more information, please
visit http://www.news.prudential.com/.
The Fund may invest in high yield (�junk�) bonds, which are
subject to greater credit and market risks. These risks may result
in greater share price volatility. There is no assurance the Fund�s
objective will be achieved.
Consider a fund�s investment objectives, risks, charges, and
expenses carefully before investing. The prospectus contains this
and other information about the fund. Contact your financial
professional for a prospectus and read it carefully before
investing.
0152334-00001-00 Ed. 5/2009
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