M&A - NEW AMERICA HIGH INCOME FUND INC

Form Type: 8-K

Filing Date: 2025-03-12

Corporate Action: Merger

Type: New

Accession Number: 000110465925023001

Filing Summary: The New America High Income Fund Inc. has announced a reorganization into the T. Rowe Price High Yield Fund. This action is set to close immediately before the opening of business on the New York Stock Exchange on March 31, 2025, pending the satisfaction of customary closing conditions. The press release detailing this information was issued on March 12, 2025, and is included as Exhibit 99.1 in the filing.

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Form Type: N-CSR

Filing Date: 2025-03-07

Corporate Action: Merger

Type: Update

Accession Number: 000110465925021668

Filing Summary: The New America High Income Fund, Inc. reports on its performance for the fiscal year ending December 31, 2024. The Fund's net asset value per share was $8.28, with a market price discount of approximately 1.3%. Distributions totaled $0.44 per share, including a return of capital of $0.02. Stockholders approved a proposal to reorganize the Fund into the T. Rowe Price High Yield Fund, anticipated to close on a mutually agreed date in writing by the parties, contingent on customary closing conditions. The interest rates on borrowings increased slightly, while the credit market experienced a notable decline in default rates. High yield activity in 2024 rose significantly over the prior year, emphasizing the improvements in credit selection and relative performance of certain sectors. The outlook indicates a normalization of the default rate to the long-term average due to several lower-quality issuers struggling amid high-rate environments.

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Form Type: 8-K

Filing Date: 2025-02-24

Corporate Action: Merger

Type: Update

Accession Number: 000110465925016239

Filing Summary: The New America High Income Fund Inc. has filed a report concerning the reorganization of the Fund into the T. Rowe Price High Yield Fund. This reorganization, which was initially expected to close after the close of business on February 21, 2025, is now set to close on a mutually agreed date, subject to customary closing conditions. The press release detailing this information was issued on February 21, 2025, and is attached as Exhibit 99.1.

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