Company: VVR
Filing Date: 2025-02-07
Form Type: N-2/A
Source: 0001104659-25-010548
Chunk: 34

Company: Invesco Senior Income Trust
Filing Date: 2025-02-07
Form: N-2/A
Chunk 34
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 determines it to be in the best interests of the Common Shareholders, issuance of the preferred shares may result in more restrictive provisions than required by the 1940 Act being imposed. In this regard, holders of the preferred shares may be entitled to elect a majority of the Fund’s Board in other circumstances, for example, if one payment on the preferred shares is in arrears. Preferred Shares. On October 24, 2024, the Fund issued two series of 500 preferred shares in the variable rate demand mode (together, the “Preferred Shares”), for an aggregate of 1,000 Preferred Shares each with a liquidation preference of $100,000 per share, pursuant to an offering exempt from registration under the Securities Act of 1933. Proceeds from the issuance of Preferred Shares were used to redeem all of the Fund’s outstanding Variable Rate Demand Preferred Shares (“VRDP Shares”). The Preferred Shares are a floating-rate form of preferred shares with a mandatory redemption date. While in the variable rate demand mode, the Preferred Shares will have an unconditional liquidity feature that enable their shareholders to require a liquidity provider, which the Fund has entered into a contractual agreement with regarding each series, to purchase Preferred Shares in the event that the shares are not able to be successfully remarketed. The Fund is required to redeem all outstanding Preferred Shares on November 1, 2034, unless earlier redeemed, repurchased or extended. The Preferred Shares are subject to optional and mandatory redemption in certain circumstances. The redemption price per share is equal to the sum of $100,000 per share plus accumulated but unpaid dividends thereon (whether or not earned or declared) to, but not including the redemption date. On or prior to the redemption date, the Fund will be required to segregate assets having a value equal to 120% of the redemption amount. Dividends paid on the Preferred Shares (which are treated as interest expense for financial reporting purposes) are declared daily and paid monthly. The rate for dividends will be determined by the remarketing agent in accordance with the procedures included in the Supplement to each Statement Establishing and Fixing the Rights and Preferences Initially Designating the Variable Rate Demand Mode for the Preferred Shares. Dividends paid on the Preferred Shares (which are treated as interest expense for financial reporting purposes) are declared daily and paid monthly. The rate for dividends will be determined by the remarketing agent in accordance with the procedures included in the Supplement to each Statement Establishing and Fixing the Rights and Preferences Initially Designating the Variable Rate Demand