Company: CHY
Filing Date: 2025-02-21
Form Type: N-2ASR
Source: 0001104659-25-016081
Chunk: 145

Company: CALAMOS CONVERTIBLE & HIGH INCOME FUND
Filing Date: 2025-02-21
Form: N-2ASR
Chunk 145
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.52%. The SSB Agreement has a commitment fee of 0.10% of any undrawn amount. The SSB Agreement also provides that if the Fund restricts SSB’s ability to lend securities to multiple otherwise eligible counterparties that, on a historical basis, have accounted for lending comprising more than 25% up to 50% of the value of securities on loan, the Fund’s cost of leverage will be increased by 0.25% per annum. If the Fund restricts SSB’s ability to lend securities to multiple otherwise eligible counterparties that, on a historical basis, have accounted for lending comprising over 50% of the value of securities on loan, the Fund’s cost of leverage will be increased by 0.45% per annum, Further, if the Fund restricts securities comprising more than 5% of its total assets from being available to lend for purposes of the securities lending program (excluding ordinary course restrictions and as otherwise agreed by SSB), the costs of leverage to the Fund will be increased by 0.20% per annum. As of January 31, 2025, the net interest rate charged under the SSB Agreement was 5.35%. Under the terms of the SSB Agreement, all securities lent or subject to repurchase transactions through SSB must be secured continuously by collateral received in cash. Cash collateral received by SSB on behalf of the Fund is deposited into a custodial account in the name of the Fund before being treated as refinancing a portion of the amounts borrowed under the SSB Agreement. The cost of leverage to the Fund under the SSB Agreement is the same, regardless of whether funded as an advance from SSB or by securities lending agented by SSB. Any amounts credited against the borrowings under the SSB Agreement would count against the Fund’s leverage limitations under the 1940 Act. Under the terms of the SSB Agreement, the Fund is required to return the value of the collateral to the borrower upon the return of the lent securities, which will eliminate the credit against the borrowings under the SSB Agreement and will increase the balance on which the Fund will pay interest. The Fund reserves the right to utilize sources of borrowings in addition to, or in lieu of, the SSB Agreement. See “Prospectus Summary — Use of Leverage by the Fund.” 79 While unsecured and unsubordinated indebtedness may rank equally with the borrowings under the SSB Agreement in right of payment, the lender under the agreement, together