World News: 20:05 GMT Tuesday 14th January 2020. [Symphony Floating Rate Senior Loan Fund via Globe Newswire via SPi World News]
TORONTO, Jan. 14, 2020 (GLOBE NEWSWIRE) -- Investors and investment advisors are invited to listen to a webinar, hosted by Larry Holzenthaler, Investment Strategist, Symphony Asset Management (“Symphony”). Symphony discusses some of the recent trends in the U.S. senior loan market and explains why they believe loan fundamentals remain positive. The presentation, recorded on January 13, 2020, can be viewed by clicking the following link:
Symphony Floating Rate Senior Loan Fund (the “Fund”) invests primarily in floating-rate senior loans, which are the most senior corporate obligations of a borrower, and are secured by the borrower’s assets. Senior loans have a first-priority secured claim on repayment, ahead of bonds and equity. Senior loans offer a high level of income and low interest rate risk compared to traditional fixed income asset classes. Symphony believes that senior loan credit fundamentals remain strong as U.S. economic growth remains intact and corporate default rates are expected to remain low.
The Fund offers a $0.60 per unit per annum distribution, paid monthly, which represents a cash distribution rate of 7.4% per annum based on the January 10, 2020 TSX closing price. The Fund is available for purchase on the Toronto Stock Exchange under the ticker symbol SSF.UN.
Globe Newswire: 20:05 GMT Tuesday 14th January 2020
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