PHILADELPHIA--(BUSINESS WIRE)--Please replace the release dated April 14, 2011 with the following corrected version due to multiple revisions.
The corrected release reads:
ABERDEEN ASIA-PACIFIC INCOME FUND, INC. RENEWS SYNDICATED LOAN FACILITY
Aberdeen Asia-Pacific Income Fund, Inc. (NYSE AMEX: FAX) (the “Fund”), a $2.6 billion closed-end fixed income fund, announced that it has renewed its $600 million credit facility with a syndicate of major financial institutions led by Scotia Capital, the wholesale banking arm of the Scotiabank Group. The renewal marks the continuation of the Fund’s leverage capabilities.
“We are very pleased to have successfully collaborated once again with Scotia Capital and the other major financial institutions to renew the facility,” said Christian Pittard, President of the Fund.
John Morale, Managing Director and Industry Head for Scotia Capital’s US and European Financial Services Group added: “This continues to be a landmark transaction. The US$600 million financing remains one of the largest syndicated financings for a 1940 Act regulated closed-end mutual fund ever completed and reaffirms Scotia Capital’s preeminent position as one of the recognized leaders in the Financial Services industry.”
About Aberdeen:
Aberdeen Asset Management PLC, parent of Aberdeen Asset Management Inc., was founded in 1983 and has over $287 billion in assets under management and 1,800 staff, across 30 offices in 23 countries which includes Aberdeen Asset Management Asia Limited (Investment Manager) and Aberdeen Asset Management Limited (Investment Adviser), as of Dec. 31, 2010. Aberdeen offers a range of investment vehicles to private and institutional U.S. investors, including mutual funds, closed-end funds and large separate accounts. Aberdeen is the world's largest asset manager of emerging market closed-end funds, by value and number, managing in excess of US$6.3bn of assets across a range of 15 funds listed in New York, London and Toronto, as of Feb. 2, 2011. For more information about Aberdeen, visit: www.aberdeen-asset.us/cef.
About Scotiabank:
Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 70,000 employees, Scotiabank Group and its affiliates serve approximately 18.6 million customers in some 50 countries around the world. Scotiabank offers a diverse range of products and services including personal, commercial, corporate and investment banking. With more than $540 billion in assets (as at January 31, 2011), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.
About Scotia Capital:
Scotia Capital is the wholesale banking arm of the Scotiabank Group, offering a wide variety of products to corporate, government and institutional clients. Scotia Capital provides full-service coverage across the NAFTA region, and also serves selected niche markets globally through two divisions, Global Capital Markets and Global Corporate and Investment Banking. It has 28 offices and more than 300 relationship managers organized around industry specialties. For more information, please visit www.scotiacapital.com.
For more information please visit www.aberdeen-asset.us/cef.