Sierra Income registers $1.5 billion shares for investment purposes

By Susanna Moon

Chicago, July 18 - Sierra Income Corp. registered to sell up to $1.5 billion of shares at $10.00 each for investment purposes, according to an N-2 filing with the Securities and Exchange Commission.

Sierra plans to invest mainly in the debt of privately owned U.S. companies with a focus on senior secured debt, second-lien debt and, to a lesser extent, subordinated debt, the filing noted.

Sierra said it may make equity investments in companies that are believed to generate appropriate risk-adjusted returns.

SC Distributors, LLC is the dealer manager of the best-efforts offering.

Sierra is a newly organized non-diversified closed-end management investment company based in New York City and is managed by SIC Advisors LLC.

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