Tender Offer - City National Rochdale Strategic Credit Fund
Form Type: N-23C3A
Filing Date: 2025-05-19
Corporate Action: Tender-offer
Type: New
Accession Number: 000139834425009832
Filing Summary: City National Rochdale Strategic Credit Fund has issued a notification regarding its quarterly repurchase offer, allowing shareholders to tender their shares for repurchase at net asset value (NAV). The repurchase offer commenced on May 16, 2025, and will end at 4 p.m. Eastern Time on June 6, 2025. The fund allows the repurchase of up to 8% of its outstanding shares quarterly, based on the approval of the Board of Trustees. The NAV as of May 9, 2025, was $6.33 per share, and shareholders can expect payment by June 24, 2025, following the pricing date of June 17, 2025. The offer is subject to the condition that if the number of shares tendered exceeds the allocated amount, repurchases may be made on a pro-rata basis. The notification urges shareholders to read the associated documents carefully and consult with their financial intermediaries if needed.
Additional details:
Investment Company Name: City National Rochdale Strategic Credit Fund
Repurchase Offered Percent: 8%
Repurchase Request Deadline: 2025-06-06
Nav As Of: 2025-05-09
Nav Value: 6.33
Repurchase Payment Date: 2025-06-24
Repurchase Pricing Date: 2025-06-17
Form Type: N-23C3A
Filing Date: 2025-02-24
Corporate Action: Tender-offer
Type: New
Accession Number: 000139834425003251
Filing Summary: City National Rochdale Strategic Credit Fund has issued a notification regarding its quarterly repurchase offer, allowing shareholders to sell their shares. The repurchase offer will commence on February 21, 2025, and conclude on March 14, 2025, at 4 p.m. Eastern Time. The fund aims to repurchase up to 8% of its outstanding shares at a price equal to the net asset value (NAV) per share as of March 28, 2025. As of February 14, 2025, the NAV was reported at $6.97 per share. Shareholders need to submit a properly completed Letter of Transmittal and Repurchase Request Form by the deadline to participate. From March 14, 2025, until the pricing date, shareholders bear the risk of NAV fluctuations. The fund may pay for repurchased shares by April 4, 2025. If shares requested for repurchase exceed the number authorized, repurchases will occur on a pro-rata basis. Shareholders whose shares are held through intermediaries may have to consult those intermediaries regarding request submissions. The document also emphasizes the importance of carefully evaluating the offer before making a decision to tender shares and includes tax implications related to the repurchase.
Additional details:
Repurchase Offer Start: 2025-02-21
Repurchase Offer End: 2025-03-14
Repurchase Percentage: 8%
Nav On Feb 14: $6.97
Repurchase Pricing Date: 2025-03-28
Payment Date: 2025-04-04
Record Date: 2025-02-12
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