Nexpoint Credit Strategies Fund (NHF) Reports $25M Share Buyback Plan
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NexPoint Advisors, L.P. ("NexPoint") announced today that the Board of Trustees (the "Board") of the NexPoint Strategic Opportunities Fund (NYSE: NHF) approved a repurchase program pursuant to which the Fund may repurchase up to $25 million of the Fund's shares over a period of six months.
The program allows for the Fund to repurchase shares, if trading at a discount, in open market transactions until the conclusion of the repurchase period on April 24, 2020.
By purchasing Fund shares, which are currently trading at a discount to the Fund's net asset value, NexPoint seeks to enhance value for NHF shareholders.
The total repurchase amount and the timing of repurchases will be subject to the Fund's available cash, after consideration of reserves necessary for anticipated fund expenses and contingencies. The Fund may sell portfolio securities in order to generate cash. There is no assurance that the Fund will repurchase shares in any amount.
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