NEW YORK, Aug 1, 2014
/PRNewswire/ -- Avenue Income Credit Strategies Fund (NYSE:
ACP) (the "Fund") announced that it
filed a preliminary registration statement with the
Securities and Exchange Commission relating to the potential
offering of additional common shares of beneficial interest of the
Fund (the "Shares") pursuant to a potential rights
offering.
The Board of Trustees (the "Board") of the Fund has not
yet approved a rights offering. No rights offering will be made
unless the Fund's Board approves such rights offering and the
definitive terms of the offering,
which may differ from those currently set
forth in the preliminary registration statement.
The preliminary registration statement contemplates that the
Fund will issue to holders of Shares (the "Shareholders")
rights to acquire new Shares based on the number of Shares owned by
such Shareholders on a record date to be set by the Fund's
Board.
The Fund is a non-diversified, closed-end management investment
company. The Fund's primary investment objective is to seek a
high level of current income with a secondary objective of capital
appreciation. Depending on current market conditions and the
Fund's outlook over time, the Fund seeks to achieve its investment
objectives by opportunistically investing primarily in loan and
debt instruments (and loan-related or debt- related instruments,
including repurchase and reverse repurchase agreements and
derivative instruments) of issuers that operate in a variety of
industries and geographic regions. The Fund's investment
adviser is Avenue Capital Management II, L.P. (the
"Adviser"). The Adviser is part of Avenue Capital
Group.
Investors should consider the Fund's investment objectives,
risks, charges and expenses carefully before investing. The
Fund's prospectus will contain this and other information about the
Fund and should be read carefully before investing. When it
is available, investors may obtain copies of the prospectus from
the Fund.
The information in this communication is not complete and may
be changed. The Fund may not sell these securities until the
registration statement filed with the Securities and Exchange
Commission is effective. This communication is not an offer
to sell these securities and is not soliciting an offer to buy
these securities in any state where the offer or sale is not
permitted.
Filed Pursuant to Rule 497(a)
File No. 333- 197804
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SOURCE Avenue Income Credit Strategies Fund