Company: NCZ-PA
Filing Date: 2025-04-11
Form Type: N-CSR
Source: 0001193125-25-079060
Chunk: 33

Company: Virtus Convertible & Income Fund II
Filing Date: 2025-04-11
Form: N-CSR
Chunk 33
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 2025, the maximum capital commitment amounts under the MMLA were $130,000, $34,000 and $25,000, respectively, for AIO, NCV and NCZ. Interest on amounts drawn under each MMLA is charged at a daily rate, and a commitment fee is paid on the undrawn amounts as agreed to in the MMLA. As of January 31, 2025, AIO, NCV and NCZ used cash collateral received from the SLAA to purchase long term investments and/or invest the amount in a short-term money market fund. These investments are included in the line item “Investments in Securities, at value” on the Statements of Assets and Liabilities. The securities on loan under the SLAA and securities pledged as collateral under the MMLA are reflected on the Schedule of Investments. Any amounts payable under the MMLA/SLAA are reflected in the Statements of Assets and Liabilities as “Loan Payable” and/or “Collateral on securities loaned.” The interest rate charged at January 31, 2025 was 4.68% for AIO, 4.68% for NCV and 4.68% for NCZ. The expense is included in the Funds’ Statements of Operations under “Loan interest”.

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NOTES TO FINANCIAL STATEMENTS (Continued) January 31, 2025

For the year ended January 31, 2025, the outstanding borrowings, average borrowings, average interest rate and interest expense under the BNY Facilities were as follows:

| Fund |     | Outstanding 
 Borrowings  |     |   Average 
 Borrowing |     |      Weighted 
       Average 
 Interest Rate |     |        Days 
 Outstanding |     |     Loan 
 Interest 
  Expense |
| AIO  |     | $130,000    
 (a)         |     |  $130,000 |     |         5.66% |     |         366 |     |    7,476 |
| NCV  |     | 34,000      
 (b)         |     |    34,000 |     |          5.74 |     |         366 |     |    1,985 |
| NCZ  |     | 25,000      
 (b)         |     |    25,000 |     |          5.70 |     |         366 |     |    1