Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers B > Headlines for BlackRock Corporate High Yield Fund, Inc. > News item |
BlackRock Corporate High Yield Fund raises funds for high-yield investments via stock sale
By Toni Weeks
San Luis Obispo, Calif., Dec. 17 – BlackRock Corporate High Yield Fund, Inc. announced plans to sell up to 10,425,000 of its shares from time to time through dealer UBS Securities LLC.
The diversified, closed-end, management investment company seeks to provide shareholders with current income and, as a secondary objective, capital appreciation by investing primarily in a diversified portfolio of fixed-income securities rated below investment grade or, if unrated, considered by the investment adviser to be of comparable quality. Under normal market conditions, it invests at least 80% of its net assets in high-yield securities, including bonds, corporate loans, convertible debt securities and preferred securities.
Proceeds will be invested in accordance with the fund’s investment objectives and policies.
James E. Keenan, Mitchell Garfin and Derek Schoenhofen are the fund’s co-portfolio managers.
The last reported sale price for the fund’s common stock (NYSE: HYT) as of Dec. 5 was $11.50 per share.
The sales load is 1%. Including a management fee of 0.86%, total annual expenses are expected to be 1.35%.
Wilmington, Del.-based BlackRock Advisors, LLC is the fund’s investment adviser.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.