GREENWICH, Conn., Nov. 16, 2023 (GLOBE NEWSWIRE) — Oxford Park Income Fund, Inc. (the “Fund”, “our”) announced today the unaudited Net Asset Value (“NAV”) as of October 31, 2023 was $26.66 per share of common stock.
On November 9, 2023 our Board of Directors (the “Board”) declared the following distributions on our common shares of beneficial interest as follows:
| Month Ending | Record Date | Payment Date | Amount Per Share | |
| January 31, 2024 | January 24, 2024 | January 31, 2024 | $0.30 | |
| February 29, 2024 | February 23, 2024 | February 29, 2024 | $0.30 | |
| March 31, 2024 | March 22, 2024 | March 29, 2024 | $0.30 | |
The Board had previously announced on October 4, 2023 monthly cash distributions of $0.25 per share for each of October, November, and December 2023. Beginning in January of 2024, the annualized distribution rate will increase to 13.5% of the current NAV, an increase of approximately 20% through March 2024. The increase in the distribution rate reflects the effective deployment of capital into income generating equity and junior debt tranches of collateralized loan obligations (“CLOs”), and the expectation of continued strong cashflows from the Fund’s investments.
About Oxford Park Income Fund, Inc.
The Fund is registered under the Investment Company Act of 1940, as a non-diversified, closed-end management investment company, that continuously offers its common shares and is operated as a “tender offer fund”. The Fund currently seeks to achieve its investment objective of maximizing risk-adjusted total returns as the Fund identifies opportunities in the CLO market through its network of broker-dealers, agent banks, and collateral managers. The Fund’s portfolio was 88% CLO equity, 5% CLO debt and 7% cash as of the close of the third quarter 2023. The Fund primarily invests in debt and equity tranches of CLO vehicles. The Fund’s investment strategy may also include warehouse facilities, which are financing structures intended to aggregate loans that may be used to form the basis of a CLO vehicle.
Forward-Looking Statements
This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered to be forward-looking statements. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors are identified from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to update such statements to reflect subsequent events, except as may be required by law.
Disclaimers
There is no assurance that the Fund will continue to declare distributions or that they will continue at these rates. Distributions are generally paid from net investment income (regular interest and dividends) and may also include capital gains and/or a return of capital. The ultimate tax character of the Fund’s earnings cannot be determined until tax returns are prepared after the end of the fiscal year. Shareholders should know that return of capital will reduce the tax basis of their shares and potentially increase the taxable gain, if any, upon disposition of their shares.
The fair value of the Fund’s portfolio investments may be materially impacted after October 31, 2023 by circumstances and events that are not yet known. To the extent the Fund’s portfolio investments are impacted by market volatility in the U.S. or worldwide, the Fund may experience a material impact on its future net investment income, its financial condition, the fair value of its portfolio investments and the financial condition of its portfolio investments. Investing in our securities involves a number of significant risks. For a discussion of the additional risks applicable to an investment in our securities, please refer to the section titled “Risks” in our prospectus and any subsequent filings with the Securities and Exchange Commission, as applicable.
The financial data included in this press release has been prepared by, and is the responsibility of, Oxford Park Income Fund, Inc.’s management. PricewaterhouseCoopers LLP has not audited, reviewed, compiled, or applied agreed-upon procedures with respect to the financial data. Accordingly, PricewaterhouseCoopers LLP does not express an opinion or any other form of assurance with respect thereto.
Securities Disclosure
This press release is provided for informational purposes only, does not constitute an offer to sell securities of the Fund and is not a prospectus. Such offering is only made by the Fund’s prospectus, which includes details as to the Fund’s offering and other material information. Securities offered through JCC Capital Markets, LLC, a member of FINRA and SIPC. JCC Capital Markets, LLC and Oxford Funds, LLC are not affiliated. Investing in the Fund involves risk of loss of some or all principal invested. Speak to your tax professional prior to investing. This is neither an offer to sell nor a solicitation to purchase any security. Please refer to the prospectus for additional information about the Fund. The prospectus should be read carefully before investing.
Contact:
Bruce Rubin
203-983-5280
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