Tender Offer - PGIM Credit Income Fund
Form Type: N-23C3A
Filing Date: 2025-03-27
Corporate Action: Tender-offer
Type: New
Accession Number: 000168386325002708
Filing Summary: On March 27, 2025, PGIM Credit Income Fund announced a quarterly repurchase offer available to shareholders. This repurchase offer is defined under Rule 23c-3 and aims to provide liquidity since shares are not redeemable daily for cash or traded on a stock exchange. The repurchase period starts on March 27, 2025, and ends on April 24, 2025, with shares being repurchased at their net asset value as of the pricing date. The offer allows repurchase of up to 5% of outstanding shares, with a potential increase limited to 2% if demand exceeds this amount. Shareholders can submit repurchase requests through their financial intermediaries or directly if they hold accounts with the Fund. The Fund will inform shareholders of the net asset value per share and anticipates payment for repurchased shares within seven days following the pricing date. Shareholders are advised that participation could have tax implications, and they are encouraged to consult with their financial or tax advisors regarding the transaction. The Fund maintains the right to modify or withdraw the offer at its discretion under certain conditions.
Additional details:
Investment Company Name: PGIM Credit Income Fund
Repurchase Offer Period Start: 2025-03-27
Repurchase Request Deadline: 2025-04-24
Repurchase Offer Amount: 5%
Price Type: net asset value
Payment Timeline: within seven days after repurchase pricing date
Form Type: N-23C3A
Filing Date: 2024-12-30
Corporate Action: Tender-offer
Type: New
Accession Number: 000168386324009537
Filing Summary: PGIM Credit Income Fund has announced a quarterly repurchase offer for its Class Z, Class A, and Class C common shares of beneficial interest, allowing shareholders to tender up to 5% of the aggregate number of shares issued and outstanding as of the repurchase request deadline. This offer is to provide liquidity to shareholders as the shares are not redeemable daily nor traded on an exchange. The repurchase request period starts on December 30, 2024, and ends on January 28, 2025. The net asset value (NAV) per share for each class has been provided, showing values as of November 20, 2024. A 2.00% early redemption fee applies if shares are repurchased within one year of purchase. Payment for repurchased shares will occur within seven days after the pricing date, and if the offer is oversubscribed, repurchase will occur on a pro rata basis. Shareholders are advised to consult financial advisors regarding the taxable implications of the repurchase offer, as selling shares is treated as a taxable event. The document includes information on submission procedures for repurchase requests, potential fees, and the conditions where the offer might be suspended or postponed by the Fund's Board of Trustees.
Additional details:
Investment Company Name: PGIM CREDIT INCOME FUND
Address: 655 Broad Street, Newark, New Jersey 07102
Repurchase Offer Period Start: 2024-12-30
Repurchase Request Deadline: 2025-01-28
Early Redemption Fee: 2.00%
Nav Class Z: 25.92
Nav Class A: 25.91
Nav Class C: 25.89
Maximum Repurchased Amount: 5%
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