Company: VVR
Filing Date: 2025-02-07
Form Type: N-2/A
Source: 0001104659-25-010548
Chunk: 17

Company: Invesco Senior Income Trust
Filing Date: 2025-02-07
Form: N-2/A
Chunk 17
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 shares may exceed the Fund’s return after expenses on the investment of proceeds from the preferred shares, resulting in a lower rate of return to Common Shareholders than if the preferred shares were not outstanding. 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 the 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. As of November 30, 2024, the Fund had outstanding preferred shares with an aggregate liquidation preference of $100,000, representing approximately 9.9% of the Fund’s total assets as of such date. Effects Of Leverage Assuming (i) the use by the Fund of leverage representing approximately 30.71% of the Fund’s total assets (including the proceeds of such leverage), 20.71% of the Fund’s total assets being attributable to borrowings and 20.71% of the Fund’s total assets being attributable to preferred shares, and (ii) interest costs to the Fund at an average annual rate of 6.67% with respect to borrowings and dividends on preferred shares at an annual rate of 5.35%, then the incremental income generated by the Fund’s portfolio (net of estimated expenses related to the leverage) must