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Neuberger Berman MLP Income Fund Announces Leverage Financing

Neuberger Berman MLP Income Fund Inc., a newly organized closed-end fund, announced today that it has successfully entered into a leverage financing facility with a major U.S. financial institution.  Under the terms of the leverage facility, the Fund has access to committed debt financing of up to $500 million that is designed to allow the Fund to take advantage of short-term borrowing rates.

The Fund recently raised $1.077 billion in its initial public offering and intends to draw on the leverage facility to purchase additional securities as its portfolio managers identify buying opportunities in furtherance of its investment objective to seek total return with an emphasis on cash distributions.  The Fund invests at least 80% of its managed assets, which includes the amounts borrowed under the leverage facility, in master limited partnerships (“MLPs”) or limited liability companies that have substantially similar economic characteristics to MLPs and currently expects its MLP investments to emphasize companies that the portfolio managers believe have growth potential and operate in the midstream natural resources sector.

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